The Competition & Consumer Commission of Singapore (“CCCS”) has cleared the proposed merger of the mobility business of Siemens Aktiengesellschaft (“Siemens AG”) with Alstom S.A. (“Alstom”) (the “Proposed Transaction”). Following a review of the Proposed Transaction, CCCS concluded that the Proposed Transaction, if carried into effect, will not infringe section 54 of the Competition Act (Cap. 50B) (the “Act”).

In its assessment, CCCS considered whether the Parties’ businesses overlap or may potentially overlap in the supply of (i) urban signalling systems; (ii) rolling stock; (iii) contact lines; and (iv) traction power supply systems.CCCS concluded that the Parties overlap in the supply of (i) urban signalling systems for MRT lines and (ii) metros in Singapore. CCCS further notes that competition concerns are unlikely to arise in the supply of contact lines and traction power supply systems in Singapore. Accordingly, CCCS’s assessment has focused on the markets for the supply of (i) urban signalling systems for MRT lines and; (ii) metros^[10] in Singapore (collectively, the “Relevant Markets”). For the purpose of this merger assessment, CCCS has not focused on the markets for the supply of contact lines and traction power supply systems.

At the end of the consultation process, and after a holistic evaluation of all the submissions received, CCCS concluded that, on balance, the Proposed Transaction, if carried into effect, will not infringe section 54 of the Act against anti-competitive mergers.

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