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9/16, 4:19 PM (Source: TeleTrader)
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Bombardier to sell transportation unit to Alstom for $8.4B

Bombardier announced on Wednesday it entered into a definitive agreement to sell its transportation business to Alstom for $8.4 billion.

The enterprise value of Bombardier Transportation reflects a $350 million reduction from the two companies' initial memorandum of understanding, offset by the impact of a more favorable currency exchange rate.

The sale already received conditional regulatory approval from the European Union and several other jurisdictions and is expected to be completed in the first quarter of 2021.

Breaking the News / NP