Bombardier, Airbus, Alstom-Siemens, The Caisse ; Partnership, Consortium, Consolidation?
Bombardier Airbus, Alstom, The Caisse ; Partnership, Consortium, Consolidation?
October 18, 2015 - Quebec, Canada
The Bombardier/Beaudoin family, the Caisse de dépôt et placement du Québec ("La Caisse") and Airbus, sitting around a table, had concocted a clever way to a productive partnership? This new association would ensure the injection of fresh cash into the CSeries program, open up access to Airbus supply chain (pricing), channels, and utimately, provide new customers... for CSeries and other Bombardier commercial aircrafts (CRJs, Q400). It would also lead to the restructuring of the dual-class share voting rights. Bombardier Inc. (of the Bombardier/Beaudoin family) would still exercise control with the help of Caisse, thus insuring a smooth, better balanced and readily responsive management to its key owners.
The Bombardier Transport IPO were about an equivalent structure involving Siemens maybe Alstom and Caisse again? A Partnership with Siemens, maybe Alstom and Caisse where Bombardier Inc. and Caisse would jointly own the majority of a brand new, well financed, Transportation entity, -- a sizable yet slick new flagship that would now rule the waves... as the proud and highly visible platform of the agglomerated technologies & products giants of Bombardier Transport and Siemens... Alstom, what if?
What could well be the cumulated value of these combined companies and the portion owned and controlled by Bombardier Inc. (current BBB.A & BBD.B shares listed in Toronto)? I'm not sure, but it seems to me it would rather be much much higher than its current tag of about CDN $3B.Remember, China offered $8B for Bombardier Transport "alone" just few weeks ago…
«De l'audace, encore de l'audace, toujours de l'audace», Georges Danton