Rus News Journal

Bombardier has descended from the Russian rails

one of loud transactions in the Russian mechanical engineering Has broken. The Canadian concern Bombardier has stopped negotiations about association of the transport actives with transmashholdingom - the Russian monopolist on release of locomotives. Canadians did not accept high cost of holding. Now its owners will begin dialogue with other applicants for an active - French Alstom and German Siemens. But prospects of these negotiations in the conditions of world financial crisis remain undecided.
yesterday in Berlin within the limits of exhibition InnoTrans the president of Open Society the Russian railways (Russian Railway) Vladimir Yakunin has carried on negotiations with chief executive Bombardier Pierre Boduanom. As has told mister Yakunin, the meeting was solving within the limits of negotiations about merge transmashholdinga in which Open Society of the Russian Railway the block package, with Bombardier Transportation belongs. They have begun in the end of the last year and should come to the end in May, but then the parties have established a deadline on October, 1st. Yesterday Pierre Boduan has informed Vladimir Yakunin that board of directors Bombardier has made the decision on a suspension of negotiations. for Bombardier there was a surprise a high cost of holding - the head of Open Society of the Russian Railway has explained.

according to Vladimir Yakunin, decision Bombardier opens possibility to begin dialogue with alternative applicants on transmashholding French Alstom and German Siemens. However their messages will already other shareholders of holding - owners Ural is mountain - the metallurgical company and Transgroups the EXPERT . In Bombardier, Siemens and Alstom on a situation yesterday did not make comments, in most transmashholdinge have told that search of the strategic partner proceeds .

Joint-Stock Company transmashholding - The Russian monopolist on release of railway locomotives. 100 % of actions of Joint-Stock Company belong Dutch Breakers Investments which shareholders are structures Iskandera Mahmudova, Andrey Bokareva, Transgroups the EXPERT and Russian Railway Open Society. Joint-Stock Company gain in 2007 on RSBU - 45,2 mlrd rub, net profit - 275,5 million rbl.

As has explained Vladimir Yakunin, a basis for confused Bombardier costs transmashholdinga estimation Ernst made one year ago and Young has served. Then the holding has been estimated in $2,9 mlrd, however taking into account that he not in all actives owns a controlling stock, - in $2,38 billion Analysis transmashholdinga spent Bombardier, according to the head of Open Society of the Russian Railway, has not strongly corrected this estimation. Besides, Canadians wanted to include in the transaction the Tver car-building factory (a controlling stock of its actions transmashholding And Russian Railway Open Societies own on an equal footing) that has in addition increased its cost.

during negotiations c Bombardier the transaction structure has changed also. When they began, Bombardier and transmashholding were going to exchange actives: the Canadian party should receive block package Breakers in exchange for block package Bombardier Transportation. During one - two years there should be a company, which party own on an equal footing. The source familiar with a course of negotiations, has specified that at a final stage sale to Canadians of a share in Breakers was discussed already simply, and association of the companies was postponed for some years. But also such variant Bombardier has not arranged. it is the private company, members of its board of directors are very careful, - the interlocutor " explains; . - Though political support at the transaction was in Canada at the highest level .

Michael Pak from IFK Metropol Believes, what not last role in refusal Bombardier the world financial crisis which has complicated attraction of means could play. With it Michael Ljamin from Bank of Moscow agrees. He adds that at Bombardier as a whole the situation is not in the best way, concern, for example, restrict in the aircraft engineering market, and in a situation of global revaluation of risks to Russia he simply has not dared at the transaction . How much to it will be ready Siemens and Alstom, analysts not undertake to predict. Mister Pak says only that the transaction scheme can and not change - transport biznesy Bombardier, Siemens and Alstom are comparable on volume. Really, in 2007 gain Bombardier Transportation has made about $8 mlrd, Alstom Transport - $7,8 mlrd, Siemens Transportation Systems - $6,5 billion Estimation transmashholdinga Ernst and Young the analyst considers fair and today.