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May 26, 2016

Deals this week: Amsted-Maxion Cruzeiro, Siemens, and Bombardier Transportation

Amsted-Maxion Cruzeiro has agreed to sell 19.5% of its stake to Greenbrier Companies for $10m.

Bombardier Tram Trains

Amsted-Maxion Cruzeiro has agreed to sell 19.5% of its stake to Greenbrier Companies for $10m.

The two companies jointly own railcar manufacturer Greenbrier-Maxion with 80.5% and 19.5% stakes respectively. Upon completing the current transaction, Amsted-Maxion Cruzeiro will own 35% equity.

Amsted-Maxion Cruzeiro will use the proceeds from the sale, which is expected to be completed in Q4 2016 to pay outstanding debt and for the company’s future development.

A consortium of Siemens and Bozankaya has secured a THB11bn ($307m) contract from Bangkok Mass Transit System Public Company (BTSC).

The contract includes the delivery of 22 four-unit metro trains to provide additional capacity for BTS Skytrain System. Siemens is also responsible for the service and maintenance of the vehicles for 16 years.

Bombardier Transportation will deliver 12 Flexity dual-voltage tram trains to the city of Karlsruhe in Germany as part of the €60m ($67m) contract received from Albtal-Verkehrs-Gesellschaft (AVG), operator of rail and bus services in Karlsruhe.

The 12 new vehicles will be 37m and accommodate 244 passengers. They will be manufactured at the Bombardier sites at Bautzen in Germany and Vienna in Austria.

Dana Financing Luxembourg has announced a private placement of senior notes to raise $375m. Due 2026, the notes bear a coupon rate of 6.5% a year.

Image: Albtal-Verkehrs-Gesellschaft (AVG) awarded trams contract to Bombardier Transportation. Photo: Courtesy of Bombardier.

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