By Frédéric Tomesco, Montreal Gazette; February 20, 2020
Bombardier Inc. opted to quit the train business after exploring acquisitions that ultimately proved unattainable because of a heavy debt load, its chief executive said.
Montreal-based Bombardier on Monday agreed to sell its majority stake in its rail division to France’s Alstom SA in a transaction that values the unit at about US$8.2 billion. Proceeds will go toward paying down the company’s $9.3 billion of long-term debt, Bombardier said. The partners are aiming to close the deal in the first half of 2021.