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Alstom reaches preliminary deal to buy Bombardier train unit – WSJ

FILE PHOTO: A logo of Alstom is seen at the Alstom’s plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau

(Reuters) – Alstom SA (ALSO.PA) has reached a preliminary deal to buy Bombardier Inc’s (BBDb.TO) train business for more than $7 billion, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

Quebec pension giant Caisse de dépôt et placement, which owns a 32.5% stake in Bombardier’s train unit, has agreed to sell its stake to Alstom and buy a minority stake in the combined train company, the report added.

Reporting by Rama Venkat in Bengaluru; Editing by Andrew Heavens

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