French train maker Alstom announced on Friday, January 29, it had completed its previously announced purchase of Bombardier rail business, an acquisition that should make it the world’s No. 2 in its industry behind China’s CRRC, reported Reuters.
Alstom, which cut its offer for Bombardier rail in September 2020, stated the price for the deal was established at €5.5 billion (US$6.7 billion), at the bottom of a range of €5.5 billion to €5.9 billion (US$6.7 billion to US$7.1 million) indicated previously.
Alstom, owned 9.7% by French conglomerate Bouygues, launched a €2 billion capital increase to finance the Bombardier deal in December after it had secured European Union antitrust approval six months earlier.
The finalization of this Franco-Canadian deal comes on the heels of Canada’s Alimentation Couche-Tard dropping its approach to France’s Carrefour after the French government expressed its firm opposition to the deal.
