MERMEC and Hitachi Rail sign put option agreement for sale of signaling systems in France, Germany, and the UK

Step forward towards the final acquisition of Thales GTS by the Group led by Giuseppe Marino

ROME, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Hitachi Rail and MERMEC SpA have signed a put option agreement for the sale of mainline signaling activities in France and signaling companies in Germany and the United Kingdom. Last October, the European Commission and the UK’s Competition and Markets Authority (CMA) approved Hitachi Rail's acquisition of Thales GTS, with the condition that Hitachi Rail divests its mainline signaling activities in France, Germany, and the UK. The put option agreement with MERMEC marks a significant advancement in meeting the compliance requirements set by antitrust authorities to conclude the acquisition of Thales GTS by Hitachi Rail.

"Today, we have reached a crucial milestone towards the final acquisition of Thales GTS, a cornerstone of our growth strategy," stated Giuseppe Marino, Group CEO of Hitachi Rail. "This agreement is aimed at fulfilling a key requirement from European and British regulatory authorities and represents a decisive step towards the acquisition of Thales GTS. This solution will ensure a long-term future for the entities involved," Marino added.

"We are pleased to have entered into this agreement, which represents a significant step towards acquiring a historic signaling company," commented Vito Pertosa, Chairman of the MERMEC Group and Angel Holding. He then added: "We are confident that the synergies with the MERMEC Group, led by CEO Luca Necchi Ghiri, will further enhance our competitive advantage, strengthening MERMEC's global presence."

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6f238192-3262-43f4-844f-3b60bcf62d16

source: MERMEC Group