The European Commission has approved the acquisition of joint control over the newly created Bombardier Transportation Investment UK Ltd, of the United Kingdom (“BTUK”), by Bombardier Inc. and Caisse de dépôt et placement Québec (CDPQ), both of Canada under the EU Merger Regulation.
BTUK will essentially comprise Bombardier’s current transport business, offering the full spectrum of rail solutions, such as rolling stock, maintenance services, system integration and signalling. The Commission concluded that the proposed acquisition would raise no competition concerns, given in particular that the companies’ activities do not overlap and CDPQ controls no company which would have a significant position as a customer or supplier of BTUK. The transaction was examined under the normal merger review procedure.
For a 30% stake in BTUK, CDPQ will pay USD 1.1 billion, a deal that with a USD 3.6 billion value.
The acquisition was announced in November.
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