Quebec’s giant pension-fund manager is poised to earn a $1 billion profit from Alstom’s planned takeover of Bombardier’s train business
Quebec’s giant pension-fund manager is poised to earn a $1 billion profit from Alstom SA’s planned takeover of Bombardier Inc.’s train business, thanks to an unusual deal it struck four years ago.
The Caisse de dépôt et placement du Québec owes its big gain to terms it demanded in 2016 when it paid $1.5 billion for what is now a 32.5% stake in the train division. At the time, Bombardier was so stretched for cash to finance plane and train orders delayed by production issues that the Caisse was one of the few institutions willing...
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