U.S. Justice Dept sets divestiture condition for Wabtec-Faiveley deal

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Under the terms of the proposed consent decree, Wabtec must divest Faiveley's entire U.S. freight brakes business to a single independent buyer approved by the United States, the department said in a news release.

Wabtec has proposed that the divestiture be sold to Amsted Rail Company Inc, a unit of privately held Amsted Industries, the department said.

(Reporting by Eric Beech; Editing by Mohammad Zargham)