Alstom gains EU okay to acquire Bombardier’s rail business

By Foo Yun Chee

BRUSSELS (Reuters) – France’s Alstom SA <ALSO.PA> clinched EU antitrust approval on Friday to acquire Canadian rival Bombardier Inc’s <BBDb.TO> rail business in a deal that will elevate it to the world’s second-largest rail maker after China’s CRRC Corp <601766.SS>.

Alstom’s success in gaining EU clearance for the deal valued up to 6.2 billion euros ($7.4 billion) contrasted with its failed attempt last year to combine its rail assets with Siemens AG <SIEGn.DE>, which was vetoed by regulators because the companies refused to offer more concessions.

“Thanks to the comprehensive remedies offered to solve the competition