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Money Alstom facing surprise difficulties at Bombardier Transport

11:40  10 august  2020
11:40  10 august  2020 Source:   purepeople.com

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In addition, Bombardier Transportation net cash position at closing will be retained by Alstom and a specific mechanism will lower purchase price on a Euro-per-Euro basis, should The acquisition of 100% of Bombardier Transportation shares will be paid with a mix of cash and new Alstom shares.

Alstom will have to divest itself of some of its plants, but the new entity could still be of a scale to compete with the Chinese world-leader in the sector, CRRC. "Going forward, a stronger combined Alstom and Bombardier entity will emerge," EU competition commissioner Margrethe Vestager said.

Alstom face à des difficultés surprises chez Bombardier Transport © Pixabay Alstom facing surprise difficulties at Bombardier Transport Alstom is confronted with "negative and unforeseen developments" at Bombardier Transport, which it is on the way to absorb . The French rail giant nevertheless remains confident about the logic of the acquisition and believes it will be able to restore the profitability of the target.

Bad news for Alstom shareholders. The results of Bombardier Inc unveiled on August 6 show "negative and unplanned developments for Bombardier Transport, which is currently facing difficulties", deplores the French rail giant, which will take into account the consequences of these financial and operational developments when discussions with Bombardier Inc, and will keep the market informed, as appropriate.

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Alstom will have to divest itself of some of its plants, but the new entity could still be of a scale to compete with the Chinese world-leader in the sector, CRRC. "Going forward, a stronger combined Alstom and Bombardier entity will emerge," EU competition commissioner Margrethe Vestager said.

Bombardier and Alstom did not immediately respond to a request for comment on Sunday from The Canadian Press. MONTREAL — The Wall Street Journal reports that Bombardier Inc. has reached a preliminary deal to sell its train division to French rail giant Alstom SA for more than US billion.

Alstom underlines that it maintains its strong conviction in the strategic rationale of the acquisition of Bombardier Transport and is confident in its ability to restore the profitability and commercial performance of Bombardier Transport activities in the medium term. At the end of July, the European Commission authorized under conditions the acquisition by Alstom of the transport branch of the Canadian Bombardier , which will give birth to the world number two in rail, a year and a half after the aborted marriage of the French group with Siemens.

>> Read also - How Alstom managed to get the takeover of Bombardier

accepted

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