EUR 200.00 For Business Accounts Only

CAF: ACQUISITION OF ALSTOM FACTORY IN FRANCE (ANÁLISIS BANCO SABADELL)

The company has just announced it has reached an agreement to acquire from Alstom the manufacturing factory in Reichshoffen (France; with 700 employees), Coradia Polyvalent platform (regional trains; manufactured in Reichshoffen) and the intellectual property linked to Talent 3 platform (currently being manufactured in Hennigsdorf, Germany). The deal is expected to be closed between April and September’22, being subject to the approval by the competition authorities, clients and the unions. The EV of the deal totals € 75 M (around 4% of CAF’s EV), which will be financed through CAF’s debt (subject to adjustments on the closing price). No details on the backlog linked Corardia platform have been given.