LEVALLOIS-PERRET (dpa-AFX) - Knorr Brake Holding Corp., a subsidiary of Knorr-Bremse AG, said that it agreed to acquire Alstom's conventional rail signalling technology business in North America for an enterprise value of around 630 million euros. This includes a mid-double-digit million EUR amount for additional expected project business.
Alstom Signaling North America attained revenues of about EUR 300 million and an EBIT margin of approximately 16% according to the preliminary results in the past fiscal year which ended on March 31, 2024.
The transaction is subject to customary conditions and is expected to close during summer 2024.
Knorr-Brems announced that the acquisition will be financed through available liquidity and debt capital and is not expected to impact the credit rating.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
