CDPQ takes a stake in Bombardier: Ensures the financial stability of a flagship of the Quebec economy

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Added on 19 November 2015 in Press releases

Montréal, November 19, 2015 – The Board of Trade of Metropolitan Montreal welcomes the agreement between the Caisse de dépôt et placement du Québec and Bombardier struck this morning. The fact that the Caisse has acquired 30% of the newly created company BT Holdco for US$1.5 billion sends a clear message about Bombardier’s importance for the Quebec economy.

“This announcement puts an end to weeks of speculation that had part of the Bombardier group in the hands of foreign companies following an international public offering in the spring,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “The Board of Trade is happy to see that control of the company will remain in Quebec.”

“The Caisse’s major investment reinforces the financial stability of one of the flagships of the local economy,” Michel Leblanc said. “By injecting US$1.5 billion into Bombardier, the Caisse is reiterating its confidence in and support for a company it has been a major shareholder in for a number of years. By investing in this new company, worth an estimated US$5 billion, the Caisse is also indirectly supporting aerospace, a sector of excellence for the city. Many innovative, high-tech small businesses have developed thanks to Bombardier’s activities. The Caisse is indirectly investing in an entire ecosystem.”

“The Caisse is also supporting Bombardier in turning around its activities and finances by imposing performance incentives,” Mr. Leblanc said. “The proposed financing package guarantees a minimum return and puts the focus on the company’s health. This is good news for Quebec investors.”

About the Board of Trade of Metropolitan Montreal

The Board of Trade of Metropolitan Montreal is made up of over 7,000 members. Its mission is to be the voice of Montréal’s business community and to promote the city’s prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration, and innovation. The Board of Trade also offers a range of specialized services to individuals and to businesses of all sizes to support them in their growth at home and abroad.

 

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Source: 
Guillaume Bérubé
Advisor, Media Relations
Board of Trade of Metropolitan Montreal

Phone: 514 871-4000, extension 4042
gberube@ccmm.qc.ca

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