Paris, France (Urban Transport News): French multinational firm Thales has shortlisted three bidders viz. Hitachi Rail (Japan), Stadler Rail (Switzerland) and CAF - Construcciones y Auxiliar de Ferrocarriles (Spain) in the sale of its rail signalling business, people close to the matter said, reported Reuters.
Alstom and Siemens have not participated in the bidding process. Alstom has recently acquired Boambardier's Rail Business, hence, did not take interest in this new deal while Siemens was in fear of anti-trust issues.
According to sources, the French defence and aerospace group, partially owned by the French state, is seeking to streamline its operations, after investors often questioned the diversity of its portfolio of assets.
"The proceeds will help bolster the finances of the maker of equipment ranging from anti-jamming devices for fighter jets to airliner navigation beacons after the pandemic dented sales and profits last year," further reported.
Thales has asked for binding bids to be submitted by the end of this week and if its price expectations are met it could select a buyer in late July or early August in this year. However, Thales and the bidders declined to comment or were not immediately available for comment to the questions of Urban Transport News and other global media firms.
The valuation estimates range from 1.5 billion to 2.5 billion euros due to the unclear stage of its restructuring and future growth prospects, according to people close to the matter said earlier this year.