FAIVELEY TRANSPORT
Faiveley Transport and Wabtec meet with the European Commission
Closing expected in Q4 2016
Gennevilliers - France, 2 May 2016
Faiveley Transport and Wabtec met with the European Commission to review the progress of the Phase 1 merger regulatory approval process following notification to the Commission on April 4.
Following these discussions, the European Commission would probably conduct a further investigation (Phase 2) commencing 12 May with respect to a few product areas affected by the combination.
As a result, Faiveley Transport and Wabtec have revised the timing for the closing of the transaction which is now expected to happen in Q4 2016.
About Faiveley Transport:
Faiveley Transport is a global supplier of high added value integrated systems for the railway industry. With more than 5,700 employees in 24 countries, Faiveley Transport generated sales of €1,048.4 million for the 2014/15 financial year. The Group supplies manufacturers, operators and railway maintenance bodies worldwide with the most comprehensive range of systems in the market: Energy & Comfort (air conditioning, power collectors and passenger information systems), Access & Mobility (passenger access systems and platform doors), Brakes & Safety (braking systems and couplers) and Services.
Faiveley Transport is listed on Euronext Paris and is a component of the CAC Allshare and CAC Mid & Small
Compartment A, ISIN: FR0000053142, Tickers: Bloomberg: LEY FP / Reuters: LEY.FP
About Wabtec Corporation:
Wabtec Corporation, with nearly 13,000 employees in more than 20 countries and 2015 sales of about $3.3 billion, is a global provider of value-added, technology-based products and services for freight rail, passenger transit and other industrial segments. The company manufactures a range of products for locomotives, freight cars and passenger transit vehicles, new switcher and commuter locomotives and provides aftermarket services.
Wabtec is listed on the New York Stock Exchange under the ticker "WAB". The company is a component of the S&P Mid-Cap 400.
Disclaimer:
This press release includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause expected results to differ.
Although Faiveley Transport believes that its expectations and the information in this press release were based upon reasonable assumptions at the time when they were made, it can give no assurance that those expectations will be achieved or that the expected results will be as set out in this press release.
Neither Faiveley Transport nor any other company within the Faiveley Transport Group is making any representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the information in the press release, and neither Faiveley Transport, any other company within the Faiveley Transport Group nor any of their directors, officers or employees will have any liability to you or any other persons resulting from your use of the information in the press release.
The public tender offer planned by Wabtec will be submitted to examination and visa by the French Autorité des Marchés Financiers. Wabtec and Faiveley Transport will respectively establish a draft offer memorandum and a draft memorandum in response which will be available on their respective websites and that of the Autorité des Marchés Financiers.
Contacts Faiveley Transport:
Guillaume Bouhours - Chief Financial Officer guillaume.bouhours@faiveleytransport.com +33 1 48 13 65 03
Domitille Vielle - Investor Relations Manager domitille.vielle@faiveleytransport.com +33 1 48 13 65 73
Charlotte Rougeron - Group corporate communication manager charlotte.rougeron@faiveleytransport.com +33 1 48 13 65 11
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FAIVELEY Transport via Globenewswire
