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BRIEF-Bombardier Closes Sale Of Its Transportation Business To Alstom

Published 2021-01-29, 08:10 a/m
© Reuters.
ALSO
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Jan 29 (Reuters) - Alstom SA ALSO.PA :

* BOMBARDIER CLOSES SALE OF ITS TRANSPORTATION BUSINESS TO ALSTOM

* BOMBARDIER - CONFIRMED CLOSING OF PREVIOUSLY ANNOUNCED SALE OF ITS TRANSPORTATION BUSINESS TO ALSTOM

* BOMBARDIER - INTENDS TO DEPLOY AVAILABLE PROCEEDS FROM SALE OF TRANSPORTATION TOWARDS DEBT PAYDOWN

* BOMBARDIER - NET PROCEEDS TO BOMBARDIER OF ABOUT $3.6 BILLION, INCLUDING ABOUT $600 MILLION IN ALSTOM SHARES

* BOMBARDIER - PROCEEDS FROM TRANSACTION WERE LOWER THAN PREVIOUS ESTIMATES AS RESULT OF TRANSPORTATION'S LOWER THAN EXPECTED CASH GENERATION IN Q4

* BOMBARDIER - PRO-FORMA NET DEBT IS ABOUT $4.7 BILLION, INCL. LONG-TERM DEBT OF $10.1 BILLION, NET OF $1.8 BILLION CASH ON HAND AS OF DEC. 31, 2020, AND ABOUT $3.6 BILLION PROCEEDS FROM TRANSPORTATION SALE

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