The European Commission approved the acquisition on November 23. This was the last regulatory clearance required to complete the proposed combination between Wabtec and Faiveley Transport, and follows a consent decree issued by the US Department of Justice in October.

The acquisition by Wabtec is expected to take place on November 30. Wabtec will then file this public tender offer with France’s Financial Markets Authority (AMF) in December.

Wabtec first announced in July 2015 its intention to acquire the Faiveley family stake in Faiveley Transport for $US 1.8bn, including assumed debt. Faiveley had sales of €1.1bn in 2015-16, while Wabtec recorded a turnover of $US 3.3bn in 2015.