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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Alstom    ALO   FR0010220475


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Alstom nears deal to buy Bombardier's train unit

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02/16/2020 | 01:59pm EDT
A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes

France's Alstom is close to clinching a deal to buy Bombardier Inc's train business which will give the unit an enterprise value of $7 billion, according to a source familiar with the matter.

An announcement could come as soon as Monday, the source said, adding a deal has yet to be signed.

The Wall Street Journal, which first reported the news, said Alstom is expected to buy the business using mostly cash and some stock.

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 WSJ report said.

Bombardier declined to comment on the report and Alstom did not immediately respond to a request for comment.

The Canadian plane-and-train-maker has been struggling to contain higher rail costs generated by a few problematic contracts in its nearly $36 billion order backlog.

The deal would help Alstom compete more effectively against Chinese rail giant CRRC Corp Ltd, after the French maker of TGV bullet trains was blocked last year by European regulators from merging with Germany's Siemens.

(Reporting by Rama Venkat in Bengaluru and Allison Lampert in Montreal; Editing by Andrew Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
ALSTOM -2.37% 37.56 Real-time Quote.-11.06%
BOMBARDIER INC. -10.78% 0.455 Delayed Quote.-73.58%
CRRC CORPORATION LIMITED 4.94% 6.59 End-of-day quote.-12.04%
SIEMENS AG -4.93% 72.95 Delayed Quote.-37.40%
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Financials (EUR)
Sales 2020 8 298 M
EBIT 2020 608 M
Net income 2020 432 M
Finance 2020 816 M
Yield 2020 1,65%
P/E ratio 2020 19,3x
P/E ratio 2021 17,3x
EV / Sales2020 0,92x
EV / Sales2021 0,85x
Capitalization 8 426 M
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Mean consensus OUTPERFORM
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Average target price 46,37  €
Last Close Price 37,56  €
Spread / Highest target 49,1%
Spread / Average Target 23,4%
Spread / Lowest Target -1,49%
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