New Delhi, India (Urban Transport News): The Competition Commission of India (CCI) has approved the acquisition of Bombardier Transportation's Rail Business by Alstom S.A. and the acquisition of approximately 18 per cent and 3 per cent share capital of Alstom S.A. by Caisse de dépôt et placement du Québec (CDPQ) and Bombardier Inc respectively.
The Alstom S.A. has also received the conditional approval of the acquisition of Bombardier Transportation's Rail Business by European Commission (EU). Both firms i.e. Alstom and Bombardier have entered into a new agreement to finalise the deal on revised price terms.
French firm Alstom is offering a wide range of transport solutions. In India, it manufactures and supplies, inter alia, signalling solutions, rail electrification, rolling stock (including locomotives and metro coaches), track works, maintenance services and it also provides associated construction and engineering services through its subsidiaries, including Alstom Manufacturing India Private Limited, Alstom Systems India Private Limited, Alstom Transport India Limited, and Madhepura Electric Locomotive Private Limited.
Bombardier Inc is a Canadian firm which is globally active in aircraft and rail transport business. Bombardier Transportation is the global rail solutions division of Bombardier that offers a wide range of rail solutions. In India, Bombardier Transportation is engaged in the sale of rail vehicles, propulsion, control equipment and signalling solutions through its subsidiary Bombardier Transportation India Private Limited.
Recently Bombardier has bagged two big Rolling Stock contracts for the supply of modern coaches and signalling systems for Delhi-Meerut RRTS and Kanpur & Agra Metro projects in India.
CDPQ (which is a global long-term institutional investor) manages funds primarily for public and para-public pension and insurance plans. It invests in major financial markets, private equity, fixed income, infrastructure and real estate.