The Thunder Bay Bombardier offices. (Staff Photo)
French company Alstom announced it has acquired Bombardier’s rail division Bombardier Transportation for between $8.3 and $8.9 billion.
The deal was confirmed Monday afternoon after the Wall Street Journal first reported it on Sunday.
A statement from Bombardier says it has to be approved by “regulatory authorities” and the deal is expected to be finalized in the first half of 2021.
Alstom says it is “deeply committed to step up the turnaround of Bombardier Transportation activities.”
Bombardier also recently left the commercial aerospace industry and the company says it continues selling its assets to reduce debt.
