This structure was designed to enable Alstom to keep a strong balance sheet and offset the cost of the underperforming projects inherited from Bombardier Transportation. Lastly, the deal was mainly financed through the issuance of shares (worth around €5.1bn), with a €2bn rights issue for Alstom shareholders, along with two capital increases reserved for CDPQ and Bombardier. Antitrust was also a significant issue, which had to be appropriately handled based on the lessons learned from the failed tie-up between Siemens Transport division and Alstom. To begin with, the interests of the sellers were not fully aligned, with Bombardier Inc in a challenging financial situation and Caisse de Dépôt et Placement du Québec (CDPQ) willing to support the creation of a global champion in the rail industry. CLUB DES 30 Alstom, creating a global leader based in France with unique geographic reach and an extensive range of solutions.Why did Alstom submit this deal as an entry for the Prix du Club des Trente?Ĭarl Bassili: This was a transformational transaction for REPORT While Alstom already had a well-established customer base in France, Italy, Spain, India, Southeast Asia, North Africa and Brazil, Bombardier Transportation provides close proximity to customers in strategic markets such as the UK, Germany, the Nordic region, China and North America. The new entity has unparalleled commercial reach around the world thanks to the complementarity of the two companies. Of its two shareholders, Bombardier Inc (67.5%) was paid in cash and shares, while CDPQ (32.5%) was paid in shares and agreed to reinvest in Alstom. Headquartered in Berlin, Germany, Bombardier Transportation employs around 40,650 people and its products and services operate in over 60 countries.On January 29th 2021, Alstom completed its acquisition of Bombardier Transportation (BT) – a division of Canadian manufacturer Bombardier Inc that specialises in rolling stock and rail transport – based on a reference price of €5.5 billion. Combining technology and performance with empathy, Bombardier Transportation continuously breaks new ground in sustainable mobility by providing integrated solutions that create substantial benefits for operators, passengers and the environment. It covers the full spectrum of solutions, ranging from trains to sub-systems and signalling to complete turnkey transport systems, e-mobility technology and data-driven maintenance services. Further information is available at: About Bombardier Transportationīombardier Transportation is a global mobility solution provider leading the way with the rail industry’s broadest portfolio. In fiscal year 2018, which ended on September 30, 2018, the former Siemens Mobility Division posted revenue of €8.8 billion and had around 28,400 employees worldwide. With digitalization, Siemens Mobility is enabling mobility operators worldwide to make infrastructure intelligent, increase value sustainably over the entire lifecycle, enhance passenger experience and guarantee availability. As a leader in transport solutions for more than 160 years, Siemens Mobility is constantly innovating its portfolio in its core areas of rolling stock, rail automation and electrification, turnkey systems, intelligent traffic systems as well as related services. Siemens Mobility is a separately managed company of Siemens AG.
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