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Spain's train maker CAF plans a bid for Thales's train signalling business, Expansion reports

Reuters
·1-min read

MADRID (Reuters) - Spanish train maker CAF plans to make a bid for the signalling arm of French technology group Thales in a transaction possibly worth 1.6 billion euros ($1.95 billion), Spanish newspaper Expansion reported Thursday, citing unidentified financial sources.

Given the size of the deal, CAF is seeking a partner to buy the unit, the newspaper reported.

The train signalling arm is a crucial technology business that allows railways operators to increase the number of trains circulating on rail lines and includes driverless train technology.

A CAF spokesman declined to comment and no one was immediately available at Thales for comment.

($1 = 0.8210 euros)

(Reporting by Inti Landauro, Matthieu Protard and Michael Susi; Editing by Alex Richardson)