Report
Delphine Brault

Alstom : The deal with Bombardier is promising and close to expectations

>A reasonable price - Alstom has offered € 6bn for Bombardier Transport's shareholders’ equity (€ 5.8bn-6.2bn depending on the closing mechanisms). The apparent EV comes to € 7.45bn according to Bombardier, including around € 900m in pension obligations and other liabilities to be taken on. Nevertheless, around € 900m in net cash expected at Bombardier at closing must be deducted, taking the effective EV to around € 6.5bn. Bombardier Transport generated sales of $ 8.3...
Underlying
Alstom SA

Alstom serves the power generation and transmission markets, and rail transport market. Co.'s activities are divided into four sectors: the Thermal Power Sector (Co. offers power generation solutions using gas or coal to services including plant modernization, maintenance and operational support); the Renewable Power sector offers EPC solutions, turbines and generators, control equipment and maintenance for Hydropower and Wind power activities; the Grid Sector designs and manufactures equipment and turnkey solutions to manage power grids and transmit electricity from the power plant to the large end-user; and the Transport Sector provides rail transport products, systems and services.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Delphine Brault

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