Bombardier Concludes Sale of BT to Alstom

Bombardier issued a news release confirming the closing of the previously announced sale of its Transportation business to Alstom.   Here are several key highlights:

• Net proceeds to Bombardier of ~$3.6 billion, including ~$600 million in Alstom shares.
• Proceeds strengthen liquidity and will allow the Company to begin debt paydown;Pro-forma net debt as of December 31, 2020 ~$4.7 billion.
• Completes Bombardier’srepositioning as a pure-play business jet company.

Stated Éric Martel, President and Chief Executive Officer, Bombardier Inc.:   “With this transaction now complete, Bombardier begins an exciting new chapter focused exclusively on designing, building and servicing the world’s best business jets.

“With an unmatched product portfolio, a world class customer services network and incredibly talented employees, we have a strong foundation to build upon as we use the proceeds from the transaction to begin addressing our balance sheet challenges through debt paydown.”

READ FULL PRESS RELEASE HERE