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Heavy weight! Bigger only CRRC! The second largest in the world! Alstom completes acquisition of Canadian Bombardier railway business

Zäit: 2021-02-23 Hits: 1

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ALSTOM, France, January 27 local time
The second largest in the world! Bigger only  CRRC
Alstom completes acquisition of Bombardier railway business in Canada

Announce through social platform - new journey is about to begin - we are very happy to be with you and learn more on January 29. It indicates that acquisition of Canadian Bombardier railway business will be officially completed.

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On January 29 local time, Alstom officially announced that they completed acquisition of Bombardier's railway business and become a global leader in the field of intelligent and sustainable transportation.

After the acquisition, Alstom will become the  second world's largest companies in this field, being underdog only in comparison with CRRC.

Group's turnover is expected to reach 15.7 billion euros, order amount will reach 71.1 billion euros. According to the plan, Alstom will employ 75000 people in 70 countries around the world.

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Review of acquisition:

In February 2020, Alstom from France officially announced signing memorandum of understanding with Bombardier from Canada and Quebec Savings & Investment group. Alstom will acquire 100% shares of Bombardier's railway department in cash and stock, with estimated value of 5.8 billion to 6.2 billion euros.

In July 2020, the EU anti-competition authority officially approved acquisition of Alstom from France and Bombardier from Canada, and issued a letter of approval. The Committee approved Alstom, France to acquire Bombardier transportation company from Canada under certain conditions.

In September 2020, Alstom announced that according to the revised price terms, they signed sales contract with Bombardier Canada and Quebec Savings & Investment group, and would officially purchase Bombardier railway department with total value of 5.3 billion euros.

In December 2020, Alstom from France and Bombardier from Canada announced that they had obtained all regulatory approvals required for acquisition project. 

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Related news 1 - business acquisition

On January 26th by local time, Alstom announced that they acquired B & C transit, California based transportation engineering design and construction company, to expand its digital mobile signal and communication specialty. However, financial details of the transaction were not disclosed. The deal should be completed in the first quarter of 2021.