16 settembre
Bombardier has signed a
definitive sale and purchase agreement for the sale of its transportation business to Alstom (
OTCPK:ALSMY +0.2%). The Quebec Deposit and Investment Fund, a significant shareholder, has also agreed to the deal.
The sale is based on an enterprise value of $8.4B, reflecting a post-memorandum of understanding $350 price reduction, offset by positive foreign currency impacts.
Net proceeds to Bombardier are expected to be ~$4B at closing, which is anticipated for Q1 of 2021, subject to customary closing conditions and remaining regulatory approvals.
"Today's announcement marks a significant milestone towards achieving our near-term priorities and repositioning Bombardier as a pure-play business jet company," Bombardier CEO Éric Martel declared. "The proceeds from this transaction will allow us to begin reshaping our capital structure and start addressing our balance sheet through debt paydown, so that we can achieve the full potential of our incredibly talented employees and our industry leading business jet portfolio."