on THALES (EPA:HO)
Thales Completes Sale of Ground Transportation Systems Business
Thales (Euronext Paris: HO) announced on 31 May 2024 the completion of the sale of its Ground Transportation Systems Global Business Unit to Hitachi Rail for an enterprise value of €1,660 million.
The Ground Transportation Systems unit, employing around 9,000 people, is a global leader in rail signaling and train control systems, telecommunications and supervision systems, and fare collection solutions. This divestment allows Thales to enhance its strategic focus on three high-growth markets: Aeronautics & Space, Defense & Security, and Cybersecurity & Digital Identity.
The sale's financial impact will be recorded in Q2 2024. In line with IFRS5 standards, the financial data for this segment for 2022 and 2023 had been classified under discontinued operations following negotiations with Hitachi Rail.
R. E.Copyright © 2024 FinanzWire, all reproduction and representation rights reserved. Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all THALES news