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Alstom completes Bombardier purchase, price at low end of guidance

Reuters
·1-min read
FILE PHOTO: The logo of Alstom is seen at the company's TGV high-speed train factory in Belfort

PARIS (Reuters) - French train maker Alstom said on Friday it had completed its previously announced purchase of Bombardier Inc's rail business, with the reference price of the deal coming at the low end of its guidance.

Alstom said the price for the deal was established at 5.5 billion euros ($6.7 billion), at the bottom of a range of 5.5-5.9 billion euros indicated previously.

Last year, Alstom secured European Union antitrust approval to acquire Bombardier's rail business, in an acquisition aimed at making Alstom the world's second-largest rail maker after China's CRRC Corp.

(Reporting by Sudip Kar-Gupta; editing by Jason Neely)