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Jul. 29, 2015, 2:19 PM
- Bombardier (OTCQX:BDRBF +7.6%) says it is sticking with a tentative plan for an IPO of its rail business in Q4, and refutes an earlier report of merger talks with Siemens (OTCPK:SIEGY +0.2%) over the unit.
- An IPO or sale of the rail unit would help Bombardier pare debt that ballooned to more than US$9B during development of the CSeries jet, which has been delayed by more than two years and is ~US$2B over budget.
Jul. 29, 2015, 6:15 AM
- Bombardier ([[BDRAF, OTCQX:BDRBF) may combine its train business with Siemens' (OTCPK:SIEGY) rail unit, sources told WSJ, stating that the Canada-based company is simultaneously preparing to float a minority stake of its transportation unit.
- The news comes some months after Siemens downplayed the idea that it could combine its rail assets, which include trains, trams and signaling technology, with those of France's Alstom (OTCPK:ALSMY).
Jun. 29, 2015, 8:23 AM
- Responding to more media reports, Chinese train maker CRRC said it had no intention to buy the rail business of Bombardier (OTCPK:BDRAF, OTCQX:BDRBF).
- CRRC was formed earlier this month through the merger of China's top two train makers, China CNR and CSR (OTCPK:CSRGY).
- Previously: Report: China trainmakers consider purchase of Bombardier stake (Apr. 29 2015)
Apr. 29, 2015, 8:48 AM
- China's top two trainmakers, CSR (OTCPK:CSRGY) and CNR, are in discussions with Bombardier (OTCPK:BDRAF, OTCQX:BDRBF) about purchasing a controlling stake in its railway unit, Reuters reports.
- Any deal to buy the Canadian company's train business would take place after CNR and CSR complete their planned $26B merger next month, the sources added.
Jan. 26, 2015, 11:11 AM
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