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The rail-deal of the year just got EUR 300 million cheaper. Alstom has announced that the takeover of Bombardier Transportation (BT) at a reduced price.
The planned takeover Of BT, to be completed in the first quarter of 2021, from Bombardier Inc and Caisse de dépôt et placement du Québec (CDPQ) will cost Alstom around EUR 300 million less than previously expected.
Agreement terms have been adjusted based on the current situation. The new price range is €5.5-5.9 billion. Before, the range was EUR 5,8-6.2 billion.
Alstom has announced that the new price is the result of the negative developments from Bombardier’s quarterly earnings report in August. Most likely, the price will eventually be around EUR 5.3 billion.
The next step in the proceedings is an extraordinary shareholders meeting on 29.10.2020.
This article first appeared on railcolornews.com
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