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Saturday, January 23, 2021

Alstom to take over Bombardier on 29 January 2021

The takeover of Bombardier Transportation by Alstom has come a step closer after both companies have confirmed that all necessary regulatory approvals required to complete the sale have been received.

In September, Alstom announced that it signed the sale and purchase agreement with Bombardier Inc and Caisse de dépôt et placement du Québec (CDPQ).

Henri Poupart-Lafarge, chairman and CEO of Alstom, said at the time: “The acquisition of Bombardier Transportation represents a transformational change for Alstom. It will enable the Group to accelerate on its strategic roadmap and strengthen its leadership in the context of a dynamic market, at a time where sustainable transportation is at the heart of the global agenda.”

The closing of the transaction was expected for Q1 2021, subject to regulatory approvals and customary closing conditions. With this latest news, Alstom and Bombardier now expect the transaction to close on 29 January 2021.

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