HITACHI OFFERS TO SELL ASSETS TO WIN EU OKAY FOR THALES RAIL DEAL

Hitachi (6501.T) has offered to sell assets in France and Germany as well as its core train control technology to gain EU antitrust approval for its 1.7 billion euro ($1.8 billion) buy of Thales' (TCFP.PA) GTS railway signalling business, a person with direct knowledge of the matter said on Friday. 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 remedies are similar to those offered to the UK Competition and Markets Authority in June which consisted of the divestment of its UK, French and German mainline signalling business and its core communication-based train control technology to a rival. Hitachi said then that the package comprised all the elements needed for a viable, standalone business.

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