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Train manufacturer: Alstom plans to take over Bombardier's train business

2020-02-17T22:21:12.300Z

The French train manufacturer is planning a partial takeover of the Canadian competitor. The purchase price is expected to be up to 6.2 billion euros.



The French TGV manufacturer Alstom wants to take over the train division of the Canadian transport company Bombardier. For this, a price in the range of 5.8 billion euros to 6.2 billion euros should be paid, said Alstom. A corresponding letter of intent had been signed.

Last week, the Handelsblatt , citing industry circles, had reported that Alstom wanted to take over the Bombardier railway business. French Finance Minister Bruno Le Maire said he would speak to EU Competition Commissioner Margrethe Vestager on Tuesday. A year ago, a planned merger of the Alstom and Siemens railway divisions failed due to the veto of the EU Commission.

Bombardier is in a restructuring process. Last year the indebted transport company sold its regional aircraft business to the Japanese company Mitsubishi Heavy Industries for the equivalent of almost 700 million euros. Most recently, the Canadian company also gave up its stake in the joint venture with Airbus to manufacture the A220 model.

The Bombardier train division is headquartered in Berlin. According to the union, around 6,500 permanent employees work in Germany out of a total of 40,650 employees who, according to the company, were most recently active in 60 different countries. In addition, there are around 1,100 temporary workers.

Source: zeit

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