Alstom announced on Friday the sale of its conventional signaling business in North America, for around 630 million euros, in an agreement with German group Knorr-Bremse AG .

The scope of the sale represents sales of around 300 million euros for the 2023-2024 financial year, the rail group said in a press release, adding that it will continue to serve the North American signaling market in various segments.

This transaction is part of Alstom's global action plan to reduce debt by €2 billion, which will be developed on May 8.

According to the Group, the proceeds of the sale, net of taxes and transaction costs, should amount to around €620 million, with closing expected as early as summer 2024. (Written by Augustin Turpin, edited by Kate Entringer)