Alstom: Bombardier seals deal
(CercleFinance.com) - Bombardier announced this Wednesday that it has signed a definitive purchase and sale agreement with Alstom SA and the Caisse de dépôt et placement du Québec for the sale of its Transportation business to Alstom.
"Under the SPA, Bombardier and la Caisse will sell their interests in Bombardier Transportation to Alstom on the basis of an enterprise value of $8.4 billion (EUR 7.15B), reflecting a $350M (EUR 300M) price reduction from the previously announced Memorandum of Understanding (MOU), offset by the impact of a more favourable currency exchange rate," the Canadian group said.
The transaction is expected to close in the first quarter of 2021.
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"Under the SPA, Bombardier and la Caisse will sell their interests in Bombardier Transportation to Alstom on the basis of an enterprise value of $8.4 billion (EUR 7.15B), reflecting a $350M (EUR 300M) price reduction from the previously announced Memorandum of Understanding (MOU), offset by the impact of a more favourable currency exchange rate," the Canadian group said.
The transaction is expected to close in the first quarter of 2021.
Copyright (c) 2020 CercleFinance.com. All rights reserved.