Siemens, Bombardier in talks about rail JV: Reuters

Germany's Siemens and Canada's Bombardier are in talks to combine their rail operations, sources told Reuters, a move that could strengthen their hand against Chinese state-backed market leader CRRC Corp. Siemens' and Bombardier's transport businesses are roughly comparable in size. With a combined 2016 operating profit of US$1.28 billion, the joint venture could be valued anywhere between US$14 billion and US$27 billion, according to the multiples of listed peers. Caisse de dépôt et placement du Québec made a $2.1 billion convertible share investment in Bombardier's rail arm last year, giving the pension fund a 30 percent interest.

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