EQS-Ad-hoc: Knorr-Bremse Aktiengesellschaft: Knorr-Bremse Signs Agreement on the Acquisition of Alstom’s Rail Signalling Technology Business in North America

Knorr-Bremse Signs Agreement on the Acquisition of Alstom’s Rail Signalling Technology Business in North America

Munich, April 19, 2024 – Knorr Brake Holding Corporation, a subsidiary of Knorr-Bremse AG (ISIN: DE000KBX1006), today signed an agreement with a subsidiary of Alstom S.A. on the acquisition of Alstom’s conventional rail signalling technology business in North America (Alstom Signaling North America).

As purchase price an enterprise value of around EUR 630 million was agreed. This includes a mid-double-digit million EUR amount for additional expected project business. Alstom Signaling North America attained revenues of about EUR 300 million and an EBIT margin of approximately 16% according to the preliminary results in the past fiscal year which ended on March 31, 2024.

With this acquisition, Knorr-Bremse is successfully making an entry into the highly attractive control, command, and signalling (CCS) segment of the rail market. Alstom Signaling is a leading company in North America’s CCS market. From today’s perspective, it is believed that the acquisition will be accretive right from the outset.

The transaction is subject to customary conditions and is expected to close during summer 2024.

The acquisition is to be financed from available liquidity and debt capital and should not affect the credit rating.

Media contact:  

Alexander Stechert-Mayerhöfer    

Head of Corporate Communications

+49 89 3547 1942    

alexander.stechert-mayerhoefer@knorr-bremse.com 

Contact Investor Relations:

Andreas Spitzauer

Head of Investor Relations

+49 89 3547 182310

+49 175 528 1320

investor.relations@knorr-bremse.com