Thales to sell railway signalling business

Thales is putting its rail signalling business up for sale in a potential deal worth $1.8 billion or more, as the French defence and aerospace group seeks to streamline operations. Thales, partially owned by the French state, makes equipment ranging from anti-jamming devices for fighter jets to airliner navigation beacons, and investors have often questioned the diversity of its portfolio of assets. Thales is working with Lazard and is expected to shortly send out information packages to potential buyers including Alstom, Hitachi Rail , Stadler Rail, Spain’s CAF and private equity groups, they said.