The combination will give the German company control of an icon of French industry that developed the high-speed TGV trains that zip across the countryside at upwards of 300 kilometers an hour (186 miles per hour).
We put the European idea to work and together with our friends at Alstom, we are creating a new European champion in the rail industry for the long term.
Below are details of previous deals, and how Siemens and Alstom stack up together and against the competition.
Global headquarters and the rolling stock management team will be located in Paris, France, whilst headquarters for the Mobility Solutions business will be in Berlin, Germany, with a total of 62,300 employees across 60 countries. They have combined sales of 15.3 billion euros ($18 billion) and earnings before interest and tax of 1.2 billion euros.
China calls for 'six-party' diplomacy on North Korea
Lavrov said Russian Federation would welcome any efforts at mediation, saying "the mediators could be one of the neutral European countries".
Siemens, based in Munich, is likely to own slightly more than half of the combined entity, said the people, who asked not to be identified ahead of a potential announcement as early as Tuesday after the separate board meetings.
Siemens CEO Joe Kaeser on Wednesday described the merger of his company's rail production unit with its French competitor Alstom as a bid to ensure their long-run worldwide competitiveness.
Recent orders from Macedonia, the United Kingdom and the U.S. for CRRC have caused growing concern at Alstom and Siemens.
Alstom shares jumped as much as 8.5 percent and Siemens rose 2 percent as analysts focused on the cost savings. Customers will significantly benefit from a well-balanced larger geographic footprint, a comprehensive portfolio offering and significant investment into digital services. In order to ensure management continuity, Henri Poupart-Lafarge, will continue to lead the company as CEO and will be a board member. While the French company gained GE's signaling unit, giving it critical mass in one of the more profitable areas of rail technology, the transaction ultimately left it without the heft to fund expensive new train and engineering projects, Leenan told Bloomberg.
The "merger of equals", which developed as Siemens discussed joint ventures with Bombardier, a Canadian maker of trains and planes, is expected to close by the end of next year. It is estimated that synergies will be of 554,2 million United States $for four years after the closing of the transaction.