Bombardier President and CEO Alain Bellemare attends the company's annual general meeting in Montreal on May 2, 2019. THE CANADIAN PRESS/Graham HughesMONTREAL -- Bombardier Inc. saw shares drop as much as 10.3 per cent Tuesday after announcing the sale of its rail business to French train giant Alstom SA.
If approved by regulators, the US$8.2-billion transaction will help Bombardier slash its debt by half, capping a five-year turnaround plan that has seen the company shed numerous assets, including its commercial airplane division. While private jets often yield higher margins, the luxury industry is more cyclical than rail, and the analysts say equity markets perceive business jets as "facing structural challenges" that are "unappealing from a growth perspective."The acquisition by Alstom -- whose stock dropped more than three per cent Tuesday -- is expected to come under intense scrutiny from antitrust regulators in the European Union.
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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?
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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
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Bombardier formally announces sale of rail unit to France’s AlstomThe deal will be done majoritarily in cash, with a chunk paid in new Alstom shares, Bombardier and Alstom confirmed in separate statements globebusiness Owners are cashing out. Taxpayer loans be damned. globebusiness Did the conversation go something like this: “Hey Alstom, if you buy bombardier train division for $8 billion we will use our public pension fund to buy a bunch of your shares, effectively subsidizing your purchase of that division” globebusiness The new, “engineering marvel “LRT trains in Ottawa are made by AlstomCanada or Alstom . They are not reliable at all. Many are already out of service. Tax Payers we’re screwed in Ottawa.
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Alstom confirms it is in talks to acquire Bombardier TransportationAlstom has confirmed Monday it is in talks with Bombardier about the possible acquisition of Bombardier Transportation. Didn't Alstrom build the lemon trains that Ottawa uses for the LRT? Didnt they just get a huge buyout
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Alstom, Bombardier shares fall after rail dealThe deal is likely to draw scrutiny from competition regulators and unions concerned about job cuts
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