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Tuesday, June 18, 2024

Bombardier Transportation announces partial sale of rail business

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Bombardier is to sell a minority stake in its transportation business later this year through an initial public offering (IPO).

The IPO will likely take place in the fourth quarter of this year, Bombardier has said, with the primary listing expected to take place in Germany, where the transportation business is headquartered.

Bombardier said: “When completed, the IPO is expected to crystallize the full value of Bombardier Transportation and further strengthen the Corporation’s financial position, while preserving flexibility should it wish to participate in future rail equipment industry consolidation.”

Following the sale, Bombardier Transportation will remain part of Bombardier Inc.

Alain Bellemare, president and chief executive officer, said: “Let me be very clear, Bombardier Transportation is not for sale. We like this business and it will remain part of Bombardier Inc.”

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