Alstom, a French multinational company operating worldwide in rail transport markets, completed the acquisition of Bombardier Transportation, a specialist in global rail transportation, from Bombardier and CDPQ for $8.4bn. As part of the deal, CDPQ converted its current investment in Bombardier Transportation into shares of Alstom and additionally invest $830m in Alstom, with a total investment of around $3.1bn. “With this transaction now complete, Bombardier begins an exciting new chapter focused exclusively on designing, building and servicing the world’s best business jets. With an unmatched product portfolio, a world class customer services network and incredibly talented employees, we have a strong foundation to build upon as we use the proceeds from the transaction to begin addressing our balance sheet challenges through debt paydown,” Éric Martel, Bombardier President and Chief Executive Officer. On September 16, 2020, parties agreed for a decrease in total consideration by $350m.