Deutsche Bahn says reached out-of-court settlement with Bombardier

Fri Mar 20, 2015 6:30am EDT
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BERLIN, March 20 (Reuters) - German railway operator Deutsche Bahn said on Friday it had reached an out-of-court settlement with Bombardier on various vehicle projects, putting an "amicable" end to years of legal disputes.

"In recent months we've been working really hard on a solution to this extremely complex and difficult situation and so reached an acceptable settlement for both parties," said Gerd Becht, Deutsche Bahn's legal affairs executive.

Deutsche Bahn had been suing Bombardier for 350 million euros ($374 million) in damages, alleging "serious defects" with the brakes and wheels after the collapse of earlier attempts by the two companies to reach an out-of-court settlement. ($1 = 0.9358 euros) (Reporting by Michelle Martin; Editing by Caroline Copley)