Bombardier sells train-making division to French multinational Alstom | CBC News
Bombardier Inc. has sold its rail-building unit to French train giant Alstom SA, marking its exit from the rail business.
On Monday, Alstom announced it had secured a deal with Bombardier and major shareholder Caisse de dépôt et placement du Québec to acquire Bombardier Transportation for a price of 5.8 to 6.2 billion euros ($8.4-$9 billion Cdn) in stock and cash.
"I'm very proud to announce the acquisition of Bombardier Transportation, which is a unique opportunity to strengthen our global position on the booming mobility market," Henri Poupart-Lafarge, chairman and CEO of Alstom, said in a news release.
Alstom gains a bigger footprint in the North American market and hopes to fend off rivals such as China's state-owned CRRC, the world's largest train maker.
Poupart-Lafarge pledged a "turnaround" at Bombardier Transportation that would deliver value to customers and further develop its operations in Quebec. Caisse remains a major shareholder, having negotiated a cash and share swap that will see it take a stake in Alstom.More to come.
Assessment of the Global Paper Making Biocide Market. The recent study on the Paper Making Biocide market is a comprehensive analysis of the various parameters that are likely to influence the growth of the Paper Making Biocide market. The historical and ...
While the S&P 500's valuation chart may be giving some investors flashbacks to the 2018 market meltdown, the bulls remain resolute.
There will be games that you can only play on the PlayStation 5 when Sony's next-gen system launches this holiday, and that's anti-consumer according to some enthusiasts. While the Japanese giant is merely following the natural order of all hardware ...
The Indian arm of the world's largest retailer Walmart has fired around 50 of its executives as the company looks to restructure its operations in the country.
BMW's first ever electric vehicle arrived in 2013. The highly touted Megacity Car took the BMW i3 name and aimed to be a car for the young and urban generation. But the rise of car sharing programs and change in customer's mobility preferences have often ...
More News in canada
PARIS/MONTREAL (Reuters) - Canada's Bombardier () said on Monday it had agreed to sell its rail division to France's Alstom () for an enterprise value of $8.2 billion (£6.31 billion), as it
French transportation giant Alstom has confirmed it is in talks with Bombardier about the possibility of acquiring its transportation division, but the company says no final decision has been made. Alstom posted a statement on
French rail giant Alstom confirmed it is in talks about possibly acquiring Bombardier Transportation, which includes its train division. The company issued a four-line statement early Monday after the Wall Street Journal reported on the weekend
Bombardier Inc. is negotiating a preliminary deal to sell its transportation division to Paris-based Alstom SA. The deal, first reported in the Wall Street Journal on Sunday, could yield $7 billion US for the