Wings Magazine

News Aircraft manufacturers
Bombardier and Alstom deal receives all regulatory approvals


December 1, 2020
Wings Staff

Topics
Alstom SA is a French multinational company operating worldwide in rail transport markets. This includes the company’s high-speed Avelia Horizon project, also known as the TGV 2020, with service set to debut in 2023. (Rendering: Alstom)

MONTREAL — Bombardier and Alstom say they have received all the necessary regulatory approvals required to complete the US$8.4-billion sale of the Canadian company’s railway division to Alstom.

The companies say they now expect the transaction to close on Jan. 29, 2021.

Bombardier deal to sell rail to Alstom at lower price

Bombardier has been working to transform itself from a maker of trains and aircraft into a company focused on business jets.

Advertisement

Alstom shareholders voted to approve the deal on Oct. 29.

The sale is expected to make Alstom the second-largest manufacturer of rolling stock, behind China’s CRRC.

Alstom has committed to establish its North American headquarters in Montreal, which will oversee 13,000 employees, set up a research centre and improve production at the Bombardier Transport plant in La Pocatiere, where the order book is almost empty.

News from © Canadian Press Enterprises Inc., 2020