June 18, 2020 / 3:50 PM / in 17 days

Bombardier CEO says rail deal with Alstom remains on track

MONTREAL, June 18 (Reuters) - Bombardier’s chief executive told shareholders at its annual general meeting on Thursday that a deal to sell its rail division to France’s Alstom SA remains “pretty much on track to our original timeline.”

Eric Martel said Bombardier “is making good progress” with asset sales, including the rail deal worth up to 6.2 billion euros ($6.96 billion).

The rail deal, which is subject to regulatory clearance, is expected to close in the first half of 2021.

$1 = 0.8911 euros Reporting By Allison Lampert, Editing by Franklin Paul

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