Alstom confirms talks underway to buy Bombardier Transportation

Business

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

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