(Reuters circulated the following story by Simon Shuster on November 28.)
MOSCOW — Canadian aerospace and transport technology firm Bombardier and Russian Railways will both buy stakes in Russian railway technology firm TransMashHolding, Kommersant reported on Wednesday.
Russian Railways, a state-owned monopoly, will purchase a 25 percent stake in TransMashHolding for $370 million, at a discount of $130 million to its initial valuation, the business daily reported, citing sources familiar with the deal.
Bombardier, the world’s third-largest maker of civil aircraft, will also buy into TransMashHolding as early as 2008, Kommersant reported. No more details were given.
The paper pointed out that Bombardier already had a joint venture with TransMashHolding in 2007 to develop locomotives.
Analysts told the newspaper that the value of the railway holding company is at least $1.7 billion and the arrival of Bombardier will help it develop modern technologies.