Bombardier supports Alstom's sale of assets to win European approval to takeover

MONTREAL — Bombardier Inc. says it supports Alstom's commitments to sell some of the Canadian transportation company's railway assets to address potential regulatory concerns with Alstom SA's US$8.2-billion acquisition of Bombardier Transportation.

Alstom has told the European Commission that it would transfer Bombardier's contribution to the V300 Zefiro very high-speed train platform, sell Bombardier's Talent 3 mainline train platform and production facilities with the Hennigsdorf site in Germany, and provide access to some of Bombardier's signalling and train control management systems.

article continues below

It would also sell Alstom's Coradia Polyvalent mainline train platform and the Reichshoffen production site in France.

The moves will be done in consultation with appropriate employee representative bodies.

Bombardier also reaffirmed that the sale remains on track to close in the first half of 2021.

After selling its commercial aircraft business, the exit from railway operations will leave Bombardier to focus exclusively on business aircraft.

This report by The Canadian Press was first published July 9, 2020.

Companies in this story: (TSX:BBD.B)

© Copyright Alaska Highway News
Alaska Highway People's Choice 2020

Popular News

Lowest Gas Prices in Chetwynd, Dawson Creek, Fort Nelson, Fort St John, Tumbler Ridge
British Columbia Gas Prices provided by GasBuddy.com

Community Event Calendar


Find out what's happening in your community and submit your own local events.