Alstom closes sale of N.American signalling business to Knorr-Bremse [Yahoo! Finance Canada]
ALSTOM UNSP/ADR (ALSMY)
NASDAQ:AMEX Investor Relations:
alstom.com/investor-relations
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Source: Yahoo! Finance Canada
"Closing of the sale completes the execution of the company's 2 billion euro ($2.2 billion) deleveraging plan," Alstom said. It had announced the sale in April as part of its plan to reduce debt by 2 billion euros. It further outlined the plan in May, including a $1 billion rights issue supported by its main shareholders. Alstom is the world's second biggest train maker after China's state-owned CRRC and has contracts on its order books from Britain for its HS2 high-speed railway and for the largest train tender in Danish rail history. Its cash problems are partly due to inheriting problem contracts after its 2021 acquisition of Bombardier's rail business. ($1 = 0.9043 euros) (Reporting by Alban Kacher in Gdansk; Editing by Louise Heavens and Milla Nissi)
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