The agreement narrows Bombardier's focus as the plane-and-train maker commits itself solely to business jets while casting off its largest division in part to help pay down US$9.3 billion in debt.
The acquisition also signals an effort by Alstom to scale up amid rising competition from China's state-owned CRRC, the world's largest train maker. Bombardier says the transaction will see Quebec pension giant Caisse de depot et placement, which owns a 32.5 per cent stake in Bombardier's train division, become Alstom's largest shareholder.
Bombardier says net proceeds from the deal will be between US$4.2 billion and US$4.5 billion after deducting the Caisse's equity position of roughly US$2.2 billion, as well as adjustments for debts and other liabilities.Alstom's purchase is expected to come under intense scrutiny from antitrust regulators in the European Union.
Good Bombardier is a total embarrassment.
I wish that were the end of liberal bailouts for bombardier and bonus’s for the executives but I fear not. Somehow with virtually no products left to sell Canadians will keep this albatross alive with taxpayer cash.
Are they going to give back the one billion dollars to the government for a bailout a few years ago.
Will Bonbardier be paying Canada back for all the bailouts JustinTrudeau gave them to keep jobs for Canadians? Ya I didn’t think so! I wonder how they will hide this many jobs lost .
Now TTC will have someone new to blame on late orders same plant different name
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Bombardier to sell train unit to French rail giant AlstomSale allows manufacturer to pay down debt as it turns its focus solely to private business aircraft globebusiness We get all our bailout money back then globebusiness Is there anything left of this company? globebusiness Ah finally we'll get a train that works. On another note when are they filing chtr 11?
Source: globeandmail - 🏆 5. / 92 Read more »
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Source: CTVNews - 🏆 1. / 99 Read more »
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Source: globeandmail - 🏆 5. / 92 Read more »
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Source: CTVNews - 🏆 1. / 99 Read more »
Bombardier to sell train unit to French rail giant AlstomSale allows manufacturer to pay down debt as it turns its focus solely to private business aircraft globebusiness We get all our bailout money back then globebusiness Is there anything left of this company? globebusiness Ah finally we'll get a train that works. On another note when are they filing chtr 11?
Source: globeandmail - 🏆 5. / 92 Read more »
Alstom to acquire Bombardier Transportation for $8.2 billionBombardier has confirmed Alstom will acquire Bombardier Transportation for an enterprise value of $8.2 billion. City Halls everywhere have already approved the new contracts for more shitty trains too wow wouldya look at that wink wink I wonder what percentage of the 8.2B will be given back to the taxpayer, for all those years of funding they received from the federal and provincial governments. How about all that bailout money
Source: CTVNews - 🏆 1. / 99 Read more »