French conglomerate Bouygues could receive up to 500 million euros (438.17 million pounds) in special payouts as a shareholder in train maker Alstom following Alstom's deal with German group Siemens AG to merge their rail operations, a source close to the talks said on Wednesday.
Shares in both companies have been volatile in anticipation of a deal.
"Politicians will also likely try to ensure some form of jobs protection in France (28 per cent of Alstom's workforce) and Germany (39 per cent of Siemens'workforce), making cost synergies hard to extract", analysts wrote in a note.
Alstom's Poupart-Lafarge said: "Today is a key moment in Alstom's history, confirming its position as the platform for the rail sector consolidation".
The new Siemens Alstom will reportedly benefit from an order backlog of €61.2 billion, revenue of €15.3 billion, an adjusted EBIT of €1.2 billion and an adjusted EBIT-margin of 8.0%.
Although the two companies are carrying out a merger of equals, Franco-German competition has not been completely quelled.
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"This will give our customers around the world a more innovative and more competitive portfolioThe global marketplace has changed significantly over the last few years". "There is a lot to do, then we go after the synergies", he said, which are estimated to amount to around 470 million euros ($551.8 million) annually and expected four years after the deal has closed. Siemens is also the leader in signaling technology, while Bombardier - whose transportation headquarters are in Berlin - is stronger in commuter and light-rail trains.
The Alstom merger with Siemens' railway division has been mooted for years and completes the transformation of the French group, which sold off its energy business to American rival General Electric in 2015 for 9.5 billion euros ($11.3 billion).
However, Henri Poupart-Lafarge will continue to lead the company as CEO and will be a board member.
Siemens and Alstom have announced that they have signed a Memorandum of Understanding to combine the two businesses in Europe. It is estimated that synergies will be of 554,2 million United States $for four years after the closing of the transaction.
The French government announced that agreement on company, which was chose to move center to Paris, is "closer to each or among equals".