eisenach
Member
France 2 television news is reporting this lunchtime that Alstom is in talks to take over Bombardier's rail interests. No great detail so far. Hope this is the correct place to post this; it will affect Derby as well, of course. Link to a La Tribune article.
https://www.latribune.fr/entreprise...mbardier-pour-7-milliards-d-euros-839600.html
Google translate:
https://www.latribune.fr/entreprise...mbardier-pour-7-milliards-d-euros-839600.html
Google translate:
"Alstom buys Bombardier trains for 7 billion euros
French railroad builder Alstom will buy Bombardier's rail business for seven billion euros, German business daily Handelsblatt said on industrial sources.
This decision, which should be formalized Thursday morning when the Canadian aircraft manufacturer's 2019 results are announced, would allow Bombardier to partially reduce its colossal debt.
Contacted by AFP, the two companies did not want to comment on this information.
New juggernaut
With this acquisition of its transport branch, whose division is headquartered in Berlin and employs around 1,500 people in Quebec, Alstom will form a new large group in the rail sector with a turnover of around 15 billion euros, according to the daily economic.
Only a year ago, Alstom had failed in its attempt to merge with Siemens Mobility because of the refusal of the European Commission which estimated that this merger would place the new group in a position of too strong domination of the competition.
The Bombardier Transportation branch, however, represents more than two-thirds of the Canadian automaker's order book, which, weighed down by a colossal debt of more than US $ 9 billion (8.2 billion euros), is forced to sell part of its major assets to stay alive."
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