Bombardier offloads Alstom stake for $608.4 million

By Reuters7 days ago

Reuters. FILE PHOTO: Bombardier's logo is seen on the building of the company's service centre at Biggin Hill, Britain March 5, 2018. REUTERS/Peter Nicholls

MONTREAL (Reuters) -Bombardier Inc sold its 3.1% stake in French rail giant Alstom (PA:ALSO) SA for 506.2 million euros ($608.4 million) through a book building process to institutional investors, the Canadian business jet maker said on Tuesday.

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The stake was acquired as part of a 5.5 billion euro sale of its rail business to the French firm. The deal, which was completed in January, has turned Bombardier (OTC:BDRBF) into a pure play business jet maker.

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