A short time after it parted ways with its commercial airline division, the rapid-sale transformation of Canadian industrial giant
Bombardier Inc. (
TSX:BBD.B) continues as reports emerged on Sunday that the company is looking to sell its train business to French rail giant
Alstom SA (
OTC:ALSMY).
According to the Wall Street Journal, the companies are working on an agreement that could be announced as early as today for a total deal value in the range of US $7.5 billion. The deal would come as Bombardier has publically struggled in many of its divisions and looks to refocus on private business aircraft exclusively.
Just last week, Bombardier pulled out of its commercial aviation joint venture with
Airbus SE (
OTC:EADSY), where they had partnered on producing the A220 airliner. The company is looking to significantly reduce its US $9 billion debt and stabilize with less divisions.
The Globe and Mail
reports here.