Shares of Alstom SA and Montreal-based Bombardier Inc fell on Tuesday after the ...
PARIS/MONTREAL - Shares of Alstom SA and Montreal-based Bombardier Inc fell on Tuesday after the French firm agreed to buy its Canadian rival’s rail division for up to 6.2 billion euros , a deal likely to draw scrutiny from competition regulators and unions concerned about job cuts.
Bombardier would use sale proceeds to cut its debt, which has been a concern for investors and rating agencies. Its net debt would drop to $2.5 billion once the deal closes in the first half of 2021. Bombardier Chief Executive Alain Bellemare said the company is focused on the “most resilient market segments,” of business aviation, including large cabin corporate aircraft and an aftermarket business that is “less susceptible to economic cycles.”Alstom executives have sought to quell concerns about any hurdles they might face over competition issues, after EU regulators blocked its attempt to merge rail assets with Germany’s Siemens AG last year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alstom shares fall after its $6.7 billion Bombardier rail dealAlstom shares fell on Tuesday after the French firm agreed to buy the rail divis...
Read more »
Alstom confirms talks on potential $7 billion Bombardier dealFrench train maker Alstom has confirmed it is in talks on the possible acquisiti...
Read more »
Bombardier agrees $8.2 billion deal to sell rail unit to AlstomCanada's Bombardier said on Monday it had agreed to sell its rail division ...
Read more »
Alstom confirms talks on potential $7 billion Bombardier dealFrench train maker Alstom has confirmed it is in talks on the possible acquisiti...
Read more »
Alstom confirms talks underway to buy Bombardier TransportationFrench transport infrastructure company Alstom said on Monday it was in talks ov...
Read more »
Alstom shares fall after its $6.7 billion Bombardier rail dealAlstom shares fell on Tuesday after the French firm agreed to buy the rail divis...
Read more »