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As part of its financial results for the first half of 2020, Alstom has provided an update on its acquisition of Bombardier Transportation as well as a likely timetable.
Alstom now estimates that the rights issue will take place between Q4 of 2020 and H1 of 2021, depending on market conditions, with an estimated closing date for the transaction being Q1 of 2021, subject to regulatory approvals and customary closing condition.
Commenting on the financial results, Alstom CEO Henri Poupart-Lafarge said:
“During the first semester, the Group’s commercial activity was impacted as anticipated by the shift in tender activity towards H2 in the context of the sanitary crisis. Yet we managed to secure some large orders notably in Central and East Asia. We are confident that the various stimulus plans together with the increasing demand for sustainable mobility solutions will lead to a solid market recovery, which reflects in our strong tender pipeline for the second semester. Production in the second quarter was back to a normal level. We were proud to deliver some flagship projects such as metro systems in Dubaï and Mexico. Finally, we achieved major milestones in the Bombardier Transportation acquisition process in recent months and we are looking forward to closing the transaction in Q1 2021.”
This article first appeared on railway-news.com
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