Bombardier announced the IPO of Bombardier Transportation is expected to take place in the fourth quarter of this year, The Wall Street Journal reports. The move is aimed at helping the company manage its financial problems.
Bombardier plans to sell a minority stake in Bombardier Transportation and list the shares in Germany, where the transportation business is based. However, other strategic moves for the rail unit remain on the table, including a joint venture or partial sale, CEO Alain Bellemare said.
“The IPO is expected to crystallize the value” of the transportation unit, Alain Bellemare added. He also said it was too early to say how much of a stake Bombardier planned to sell, or to estimate IPO proceeds.
Photo: Bombardier
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