Alstom closes sale of N.American signalling business to Knorr-Bremse

- French train maker Alstom said on Monday it had completed the sale of its North American conventional signalling business to Knorr-Bremse for $690 million.

It had announced the sale in April as part of its plan to reduce debt by 2 billion euros. It further outlined the plan in May, including a $1 billion rights issue supported by its main shareholders. MANILA, Philippines — A storm set off landslides and unleashed pounding rains that flooded many northern Philippine areas overnight into Monday, leaving at least 9 people dead and prompting authorities to suspend classes and government work in the densely populated capital region.

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Alstom closes sale of N.American signalling business to Knorr-Bremse'Closing of the sale completes the execution of the company's 2 billion euro ($2.2 billion) deleveraging plan,' Alstom said. Alstom is the world's second...
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