French company Alstom announced it has acquired Bombardier’s rail division Bombardier Transportation for $8.2 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.”
There are currently about 450 employees at the Thunder Bay facility who are assembling bilevel vehicles for Metrolinx.
Bombardier also recently left the commercial aerospace industry and the company says it continues selling its assets to reduce debt.
Previous Story:
