Details of Alstom Siemens merger

Headlines from today's Alstom/Siemens merger announce.

• Signed Memorandum of Understanding grants exclusivity to combine mobility businesses in a merger of equals
• Listing in France and group headquarters in Paris area; led by Alstom CEO with 50 percent shares of the new entity owned by Siemens
• Business headquarter for Mobility Solutions in Germany and for Rolling Stock in France
• Comprehensive offering and global presence will offer best value to customers all over the world
• Combined company’s revenue €15.3 billion, adjusted EBIT of €1.2 billion
• Annual synergies of €470 million expected latest four years after closing

Details here.

All eyes now on Bombardier…

UPDATE: Reuters has a good video primer on today's announcement here