MONTRÉAL, July 31, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) and Alstom welcome the European Commission's decision for conditional clearance of the proposed acquisition of Bombardier Transportation by Alstom. The Commission's approval for the transaction is conditional on certain proposed engagements that consist of:
- A transfer of Bombardier Transportation's contribution to the V300 ZEFIRO very high–speed train and an offer of IP licence to Hitachi for the train co–developed by Hitachi and Bombardier Transportation for use in future very high–speed tenders in the UK;
- The divestment of the Alstom Coradia Polyvalent and the Reichshoffen production site in France;
- The divestment of the Bombardier TALENT 3 platform and dedicated production facilities located within the Hennigsdorf site in Germany;
- Providing access to certain interfaces and products for some of Bombardier Transportation's Signalling On–Board Units and Train Control Management Systems (TCMS).
The divestitures will be done in compliance with all applicable social processes and consultations with employee representatives' bodies. The transaction remains subject to further regulatory approvals in several other jurisdictions and customary closing conditions. The closing of the transaction is expected for the first half of 2021.
With nearly 60,000 employees across two business segments, Bombardier is a global leader in the transportation industry, creating innovative and game–changing planes and trains. Our products and services provide world–class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.
Headquartered in Montral, Canada, Bombardier has production and engineering sites in over 25 countries across the segments of Aviation and Transportation. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2019, Bombardier posted revenues of $15.8 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
Bombardier, ZEFIRO and TALENT are registered trademarks of Bombardier Inc. or its subsidiaries.
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