WILMERDING, Pa., March 21, 2017 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE:WAB) has completed the acquisition of the remaining shares of Faiveley Transport by implementing a mandatory squeeze-out procedure at the price of the cash tender offer, a cash payment of 100 euros for each outstanding Faiveley Transport share. As a result, Faiveley Transport’s shares were delisted from Euronext Paris. Wabtec Corporation (www.wabtec.com) is a leading global provider of equipment, systems and value-added services for transit and freight rail. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world. Certain Legal MattersThis communication is not intended to, and does not, constitute, represent or form part of any offer, invitation or solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this press release or otherwise. The distribution of this communication in jurisdictions outside the U.S. or France may be restricted by law or regulation and therefore any person who comes into possession of this communication should inform themselves about, and comply with, such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities laws or regulations of any such relevant jurisdiction. Faiveley Transport is incorporated in France and listed on Euronext Paris and any offer for its securities will be subject to French disclosure and procedural requirements, which differ from those that are applicable to offers conducted solely in the U.S., including with respect to withdrawal rights, offer timetable, settlement procedures and timing of payments. The transactions described above will be structured to comply with French and U.S. securities laws and regulations applicable to transactions of this type. Securities Act of 1933, as amended.
Transit and freight rail equipment provider Wabtec has completed its acquisition of the outstanding shares of Faively Transport. Wabtec initiated a mandatory cash payment of 100 euros for each remaining share. Faively Transport will be renamed to Wabtec.