EU approves Translohr takeover by Alstom, FSI
BRUSSELS (Reuters) - Engineering company Alstom (ALSO.PA) and French sovereign fund FSI secured EU regulatory approval on Monday to buy French tramway system maker Translohr.
The French company and FSI (Fonds Stratégique d'Investissement) unveiled the takeover in May after due diligence showed Translohr's financial situation was worse than expected.
Both Alstom Transport and Translohr manufacture and market trams and light rail vehicles, but the European Commission said it found no competition threats in the deal.
"The Commission's investigation showed that Alstom Transport's trams on rails and Translohr's rubber-tired trams are rarely in competition and that several credible and established competitors would continue to compete with the merged entity, whatever market definition is used," the EU watchdog said in a statement.
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