CDPQ becomes Alstom’s largest shareholder following the announcement to acquire Bombardier Transportation
8.20 Billion USD
On February 17, 2020, Alstom announced an 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 convert its current investment in Bombardier Transportation into shares of Alstom. CDPQ also announced an additional investment of €700 million in Alstom.
Upon closing of this transaction, CDPQ will become the largest shareholder of Alstom, with a stake of around 18% in the company. CDPQ’s total investment in Alstom will amount up to €2.78 billion (C$4.0 billion). At Closing, Alstom shares will be acquired by CDPQ at €44.45 per share and CDPQ will appoint two representatives and one observer on Alstom's Board of Directors. This transaction is expected to close in the first half of 2021.
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, Sonia Struthers (M&A), Dominic Thérien, Julien Beaulieu (Competition/Antitrust), Mathieu Dubord, François Dupuis (Financial Services), Philippe Bélanger, Jocelyn Perreault (Bankruptcy & Restructuring), Martin Boodman (Litigation), Christian Meighen and Marie-Soleil Landry (Tax).