Bombardier offloads Alstom stake for $608.4 million


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MONTREAL (Reuters) -Bombardier Inc sold its 3.1% stake in French rail giant Alstom SA for 506.2 million euros ($608.4 million) through a book building process to institutional investors, the Canadian business jet maker said on Tuesday.

The stake was acquired as part of a 5.5 billion euro sale of its rail business to the French firm. The deal, which was completed in January, has turned Bombardier into a pure play business jet maker.

Bombardier said following the settlement of the offering, the company will have fully exited its stake in Alstom.

Montreal-based Bombardier said its holdings of 11.5 million shares in Alstom were sold at 44 euros each.

The offering will take place on May 7, the company said.


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Bombardier closed down 2.11% in Toronto trading, while Alstom shares ended flat in Paris.

($1 = 0.8320 euros)

(Reporting By Allison Lampert in Montreal and Sabahatjahan Contractor in Bengaluru; Editing by Cynthia Osterman and Anil D’Silva)

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