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The pandemic has not dampened Alstom’s ambitions to acquire Bombardier Transportation. The memorandum of understanding signed on February 17 with Bombardier Inc. and the Caisse de dépôts et placements du Québec (CDPQ) is still in effect.
Bombardier announced on February 17, 2020 its strategic decision to focus on business aviation and accelerate its debt reduction through the sale of its Transportation business segment to Alstom. The business aircraft sector (Learjet, Challenger, Global) is Bombardier’s most profitable.
With the agreement signed on 17 February, Alstom strengthens its position as the world’s 2nd largest rail manufacturer (behind China’s CRRC and ahead of Siemens). Bombardier Transportation is now in 4th position.
The Caisse de dépôts et de placements du Québec (CDPQ) owns 32.5% of Bombardier Transportation. The agreement calls for CDPQ to convert its current investment in Bombardier Transport into Alstom shares and invest an additional 70 million euros. CDPQ will thus become Alstom’s largest shareholder with approximately 18% of the capital, ahead of France’s Bouygues.
The transaction is subject to approval by the European competition authority.
For a recent update, click HERE.