CDPQ becomes Alstom’s largest shareholder following Alstom's acquisition of Bombardier Transportation

Date Closed

January 29, 2021

Lead Office

Montréal

Value

8.20 Billion USD

On January 29, 2021, Alstom announced the completion of its agreement to acquire 100% of the shares of Bombardier Transportation. As part of this transaction, Caisse de dépôt et placement du Québec ("CDPQ") also announced an agreement with Alstom to reinvest its portion of the purchase price in common shares of Alstom and to make an additional investment of €700 million common shares of Alstom, representing a total investment of approximately €2.6 billion. 

Upon closing of this transaction, CDPQ became the largest shareholder of Alstom, with 17.5% of Alstom’s share capital. CDPQ appointed two representatives and one observer on Alstom's Board of Directors.

CDPQ is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans.

McCarthy Tétrault LLP is advising CDPQ with a team led by Patrick Boucher that includes David McAusland, Louis-Charles Filiatrault, Camille Paquette and Sonia Struthers (M&A), Dominic Thérien and Julien Beaulieu (Competition/Antitrust), Mathieu Dubord and François Dupuis (Financial Services), Philippe Bélanger and Jocelyn Perreault (Bankruptcy & Restructuring), Martin Boodman (Litigation), and Christian Meighen and Marie-Soleil Landry (Tax).

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