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☆ Hitachi wins EU okay for $1.8 bln Thales deal
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: 1 min

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsCompanies Hitachi Ltd FollowThales SA FollowBRUSSELS, Oct 30 (Reuters) - EU antitrust regulators said on Monday they cleared Hitachi's (6501.T) 1.7-billion-euro ($1.80 billion) bid for Thales' (TCFP.PA) GTS railway signalling business on condition the Japanese company sells assets in France and Germany, as it offered to do so. Reuters reported two weeks ago the European Commission was about to clear the deal. ($1 = 0.9434 euros)Reporting by Marine Strauss and Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Marine Strauss, Benoit Van Overstraeten Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow BRUSSELS, Reuters, Commission, Thomson Locations: Zurich, Switzerland, Hitachi's, France, Germany

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Hitachi submitted its offer to sell its mainline signalling business in France and Germany to the European Commission last month. The EU competition watchdog and Hitachi declined to comment. The UK's competition agency cleared the deal this month after Hitachi pledged to sell its mainline signalling business in the United Kingdom, France, and Germany. ($1 = 0.9478 euros)Reporting by Foo Yun Chee; editing by Mark Potter and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Foo Yun Chee, Mark Potter, Jason Neely Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow BRUSSELS, European, EU, Thomson Locations: Zurich, Switzerland, France, Germany, United Kingdom

☆ Hitachi's EU remedies on Thales deal similar to UK remedies, source says
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsCompanies Hitachi Ltd FollowThales SA FollowBRUSSELS, Sept 15 (Reuters) - Hitachi's (6501.T) remedies to EU antitrust regulators assessing its proposed 1.7-billion-euro ($1.8 billion) buy of French infrastructure company Thales' (TCFP.PA) rail signal business are similar to those offered to the UK competition agency, a person with direct knowledge of the matter told Reuters on Friday. Hitachi told the UK Competition and Markets Authority in June that it was ready to divest its UK, French and German mainline signaling business and transfer its core communication-based train control technology to a rival. It had said that these assets comprise all the elements needed for a viable, standalone business. ($1 = 0.9376 euros)Reporting by Foo Yun CheeOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Foo Yun Chee Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow, Reuters, Competition, Markets Authority, Thomson Locations: Zurich, Switzerland

The Japanese conglomerate put in its offer to the European Commission on Thursday, the same day it requested EU clearance for the deal, an EU regulatory filing showed on Friday. The EU competition enforcer, which set a Nov. 6 deadline for its decision, did not provide details of the remedies in line with its policy. The company had sought EU approval in October last year but withdrew its application a month later. The deal underscores the consolidation in the rail industry, with independent players teaming up with bigger industrial groups. The Competition and Markets Authority (CMA) in August narrowed its concerns, saying the deal would not substantially lessen competition in the supply of communications-based train control signalling systems in the UK.

Persons: Arnd, Foo Yun Chee, David Evans, Louise Heavens Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow, European, UK Competition, Markets Authority, EU, Thomson Locations: Zurich, Switzerland, France, Germany

PARIS, July 25 (Reuters) - France's Thales (TCFP.PA) said on Tuesday it would buy U.S. cybersecurity company Imperva in a deal worth $3.6 billion as it steps up expansion away from its historic defence business to the war against hacking. "This really changes our scale in civil cybersecurity," Thales Chief Executive Patrice Caine told analysts, adding that the deal represented a rare opportunity to become a premium player on a global scale in cybersecurity. Thales said the price of the deal implied an enterprise value of 17 times 2024 operating earnings. Thales said buying Imperva would generate around $110 million of pretax synergies, including $50 million of cost savings and $60 million linked to revenue opportunities. Thales said the deal would close in 2024 subject to approvals, and did not anticipate significant hurdles.

Persons: Thoma, Patrice Caine, Thales, Jefferies, Chloe Lemarie, Caine, Morgan Stanley, Sudip Kar, Muralikumar Anantharaman, Kim Coghill, Bernadette Baum Organizations: Thales, Thoma Bravo, PwC, Cobham Aerospace Communications, Thomson Locations: cybersecurity, France, Paris, Europe

☆ Morning Bid: Markets shrug off upbeat news from Japan and China
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

With a Reuters poll pointing to a sharp slowing in Tokyo's core CPI for July next week, Bank of Japan Governor Kazuo Ueda is likely to remain confident about sticking to Japan's ultra-easy policy settings next Friday, keeping the yen on the back foot. China's latest efforts to boost consumption provided a small lift to mainland stocks, but markets continue to look ahead to the Politburo meeting, expected next week, for bigger stimulus announcements. The piecemeal measures unveiled so far suggest there's plenty of scope for disappointment. Where Beijing seems to be having greater impact is in propping up the Chinese yuan , which was holding the bulk of Thursday's gains after another stronger-than-forecast midpoint setting on Friday. A sharp drop in the July GfK consumer confidence gauge, which came in below the lowest Reuters poll forecast, suggests sentiment remains downbeat after what's expected to be a weaker UK retail sales reading for June.

Persons: Sonali Desai, Kazuo Ueda, Edmund Klamann Organizations: Netflix, Bank of Japan, U.S . Federal Reserve, European Central Bank, Reuters, Thales SA, Bank, American Express, Schlumberger NV, Thomson Locations: Asia, Japan, U.S, Beijing, propping

☆ France's Thales to acquire Cobham Aerospace Communications for $1.1 bln
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Thales Group is seen during a visit at the Thales radar factory in Limours, France, February 1, 2023. REUTERS/Gonzalo FuentesJuly 12 (Reuters) - French defence and technology group Thales (TCFP.PA) said on Wednesday it started talks to buy French supplier Cobham Aerospace Communications for $1.1 billion. Thales said that with the acquisition it aims to strengthen its portfolio in avionics - the complex electronic systems used on aircraft. Cobham Aerospace Communications is a leading supplier of advanced cockpit communication systems and it is expected to generate about $200 million in revenue in 2023, Thales said. The transaction is expected to generate medium-term double-digit growth per annum for Thales and to have accretive impact on its margins.

Persons: Gonzalo Fuentes, Thales, Yannick Assouad, Michal Aleksandrowicz, Jacqueline Wong, Jason Neely Organizations: Thales Group, Thales, REUTERS, Cobham Aerospace Communications, Avionics, Jefferies, Thomson Locations: Limours, France, Paris, Gdansk

SAO PAULO, May 16 (Reuters) - France's Thales SA (TCFP.PA) will provide maintenance services for Brazilian airline Gol (GOLL4.SA) in Brazil instead of abroad, the companies outlined on Tuesday in a deal that aims to cut turnaround time and lower costs. Under the deal, Gol Linhas Aereas Inteligentes SA, as the airline is formally known, will no longer need to ship its Thales equipment to the United States or France for maintenance, as they will now be repaired at a Thales plant near Sao Paulo. Thales supplies avionics to Gol, which has a fleet of roughly 120 Boeing (BA.N) aircraft, and to local rival Azul , which mainly operates Airbus (AIR.PA) and Embraer (EMBR3.SA) aircraft. Gol and Thales did not disclose financial details of their deal, but the carrier's director of maintenance, Fernando Miwa, said Thales' investments in Brazil would provide local operators with an opportunity to cut costs. "The market for this type of service in Brazil is still very limited," Miwa said.

☆ 'Business is very good, unfortunately': Arms fair spotlights bonanza year ahead for weapons companies
▼ + stars: | 2023-02-24 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Mohammed Zarandah | Anadolu Agency | Getty ImagesFew things illustrate the health of the arms industry like a massive defense fair. Indeed, many countries are ramping up their defense spending to unprecedented levels. On top of that, U.S. military spending on Ukraine alone hit nearly $50 billion in the last year. China and Saudi Arabia also set respective records for their own governments' defense spending in 2022, despite inflation, giving no indications of slowing down. France's Caesar self-propelled guns, which have been highly effective in battle for the Ukrainian military, normally take two years to make; the government aims to cut that time in half.

☆ Thales-Hitachi rail signal deal delayed as UK raises competition concerns
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

Dec 9 (Reuters) - Britain's competition watchdog is concerned Japan's Hitachi (6501.T) acquisition of France's Thales (TCFP.PA) railway signalling business may result in higher fares for passengers, it said on Friday. As a result, Thales (TCFP.PA) expects the sale to close in the second half of next year, compared to the previous plan to finalise the deal in early 2023. Britain's principal customer for mainline signalling, Network Rail, is putting in place a tendering process for its next major signalling procurement, the Competition and Markets Authority (CMA) said. A deal between Hitachi and Thales could eliminate a credible competitor from the new tendering process, it said. It said both companies were committed to working with all regulatory bodies to ensure the deal closed as quickly as possible.

☆ France's Thales says hackers claim to have stolen data
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: 1 min

PARIS, Nov 1 (Reuters) - French defence and technology group Thales (TCFP.PA) said on Tuesday the hacker group LockBit 3.0 claimed to have stolen some of its data and was threatening to publish it. Thales said the extortion and ransomware group had announced plans on the dark web to release the data on Nov. 7. Thales has opened an internal investigation and has informed the ANSSI national cyber security agency, but so far has not filed a complaint with the police, a company official said. The hackers have not provided proof they have obtained any Thales data, the official added. Reporting by GV De Clercq, Editing by Louise Heavens and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

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