Alstom confirms talks underway to buy Bombardier Transportation

0
127

FILE PHOTO: A logo of Alstom is seen at the Alstom’s plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau/File Photo

PARIS (Reuters) – French transport infrastructure company Alstom (ALSO.PA) said on Monday it was in talks over a possible acquisition of the train business of Canadian company Bombardier (BBDb.TO), which could be worth $7 billion on an enterprise value basis.

“Alstom confirms being in discussions with Bombardier regarding a possible acquisition of Bombardier Transportation by Alstom. Discussions are ongoing. No final decision has been made,” Alstom said in a statement.

A source familiar with the matter told Reuters on Sunday that Alstom was close to agreeing a deal to buy Bombardier’s train business, which will give the unit an enterprise value of $7 billion.

Reporting by Sudip Kar-Gupta; editing by David Evans

Our Standards:The Thomson Reuters Trust Principles.

2020-02-17 07:50:55

Read more from source here…