Alstom to Buy Bombardier for 6.2 Billion Euros

french euro to canadian bombardine billion euro
french euro to canadian bombardine billion euro

France-based energy and transport company Alstom has agreed to buy the European-based train business of Canadian-based multinational business jets, public transport and high-speed train train sets Bombardier for 6.2 billion euros ($ 6.8 billion).

Bombardier, which has been in financial difficulties for a long time, has sold some of its companies operating in different sectors to international companies such as Mitsubishi, Airbus and Textron.

Bombardier's aviation division Bombardier Aviation is headquartered in Montreal, and the public transport division Bombardier Transportation is headquartered in Berlin.

In fact, Alstom is a global company that operates worldwide, although it is French-based, and it is also the manufacturer of high speed trains such as TGV and Eurostar.

The agreement of the French Alstom and Canadian Bombardier must be approved by the European Union Competition Board for the agreement to be valid.

French Finance Minister Bruno Le Maire will meet on Tuesday with EU competition commissioner Margrethe Vestager to discuss the deal.

France criticized the EU's decision to block last year's Alstom-Siemens merger initiative and supported the potential Alstom-Bombardier merger.

“This agreement will allow Alstom to prepare for the future against the increasingly competitive international competition,” said Le Maire.

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