Bombardier Inc. T.BBD.A

net proceeds lower due to market conditions

[bingostar]

MONTREAL — Bombardier says the net proceeds from the sale of its rail business to Alstom were lower than expected because of difficult market conditions.

The Montreal-based company confirmed the closing of the deal today.

Bombardier says net proceeds from the sale were US$3.6 billion, down from the US$4 billion it had expected in September.

 

Bombardier spokeswoman Jessica McDonald attributed the drop to Bombardier Transportation's reduced cash generation in the fourth quarter in 2020.

McDonald says the shortfall was offset by the redemption of Bombardier equity and loan repayment from Bombardier Transportation.

Bombardier plans to share more details about the transaction when it reports its fourth-quarter results on Feb. 11.

This report by The Canadian Press was first published Jan. 29, 2021.

[johnney]

Most here thought that because the recentally train orders obtained by the bomber, that probally Alstom would pay a bonus or get more for the sale, but it's even lower from what it was figured! Doesn't go as we think it will go! But what else can we do than wait to see the following of this!