August 2, 2017 / 8:01 AM / in 4 months

Siemens, Bombardier rail JVs to be headquartered in Berlin - sources

FRANKFURT, Aug 2 (Reuters) - Siemens and Bombardier are set to agree to headquarter both of their planned transportation joint ventures in Berlin, two people close to the matter said.

Siemens’ supervisory board was due to sign off on the deal on Wednesday, the people said.

The two companies plan to bundle their rail signalling and rolling-stock divisions in two separate joint ventures in a deal that would give the two added heft to compete against Chinese rail giant CRRC.

Bombardier Transportation declined to comment, while Siemens was not immediately available for comment. (Reporting by Markus Wacket and Alexander Hübner; Writing by Arno Schuetze; Editing by Ludwig Burger)

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