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Thales To Sell Its Rail Business To Hitachi - Quick Facts

Thales (THLEF.PK) and Hitachi Rail said they are entering into exclusive talks on the sale of Thales's Ground Transportation Systems for an enterprise value of 1.66 billion euros. Employee representative bodies of both companies are being consulted on the project. The deal is anticipated to close by end 2022 or early 2023.

"With this, we will be able to focus on the development of our 3 high-tech long-term growth businesses, each of them able to sustainably deliver double-digit margins -Aerospace, Defense & Security, and Digital Identity & Security," said Patrice Caine, Chairman and CEO, Thales.

Thales noted that its Transport segment is treated as discontinued operations in full year 2021 financial statements.

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