The Competition Commission of India (CCI) today approved Alstom SA's acquisition and sole control over Bombardier Transportation in India.
It also approved the acquisition of about 18 per cent and 3 per cent share capital of Alstom by Caisse de depot et placement du Quebec (CDPQ) and Bombardier Inc under Section 31(1) of the Competition Act 2002, according to an official statement.
The Ministry of Corporate Affairs said a detailed order by CCI will follow soon.
Alstom is a French company active globally in rail transport industry offering a wide range of transport solutions. In India, it manufactures and supplies signalling solutions, rail electrification, rolling stock (locomotives and metros), track works and maintenance services.
It also provides associated construction and engineering services through its subsidiaries, including Alstom Manufacturing, Alstom Systems, Alstom Transport and Madhepura Electric Locomotive.
Bombardier is a Canadian company in business aircraft and rail transport industries.
Bombardier Transportation is the global rail solutions division of Bombardier. In India, it is engaged in sale of rail vehicles, propulsion, control equipment and signalling solutions through its subsidiary Bombardier Transportation India.
CDPQ is a global long-term institutional investor. It manages funds primarily for public and para-public pension and insurance plans. It also invests in major financial markets, private equity, fixed income, infrastructure and real estate.
( With inputs from ANI )
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