MONTREAL -- The Wall Street Journal reported Sunday that after weeks of rumours and discussions, Bombardier, which is trying to reduce its heavy debt, is about to sell its train division to French giant Alstom. Unlike the aeronautics division, Bombardier Transportation, whose head office is located in Berlin, Germany, is much less present in Quebec. DETAILS OF THE DEALAccording to the Wall Street Journal, Alstom will offer cash and stocks. Together, Alstom and Bombardier Transportation would generate revenue of approximately $18 billion US, according to analyst Benoit Poirier of Desjardins Capital Markets. A marriage between Alstom and Bombardier Transportation risks being scrutinized by antitrust authorities, which could delay the conclusion of the transaction.

Source: Wall Street Journal February 16, 2020 19:07 UTC