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Company News

Alstom to stick to financial terms of rail deal with Bombardier

PARIS, May 12 (Reuters) - Alstom plans to stick to the terms of its previously-agreed rail deal with Bombardier , Chairman and Chief Executive Henri Poupart-Lafarge told a conference call on Tuesday.

In February, the French TGV high-speed train maker Alstom agreed to buy the rail division of Bombardier for up to 6.2 billion euros ($6.7 billion) in a cash-and-shares deal aimed at creating the world’s No. 2 train manufacturer and a challenger to Chinese leader CRRC Corp.

Alstom added on Tuesday that it hoped to close its deal with Bombardier, which is subject to regulatory clearance, in the first half of 2021.

$1 = 0.9246 euros Reporting by Gwenaelle Barzic; editing by Louise Heavens

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