Bombardier Transport Being Sold for $8.2B

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CBJ — Montreal-based Bombardier has agreed to sell its transportation unit to Astom of France in a deal worth an estimated US$8.2 billion.

The assets of the unit include the rail and train division as Bombardier looks to put more of its core focus back on aviation. The business decision to sell was made as part of a conscious effort to pay down more than $9 billion in debt.

The sale is expected to close in the first half of 2021, assuming there are no hiccups with any regulatory matters.

@CanBizJournal

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