It has been confirmed Bombardier will be selling its rail division to French company Alstom SA.
The Globe and Mail says the deal is valued at 8.2 billion dollars.
Earlir today, Alstom confirmed it was in talks with Bombardier about the aquisition of Bombardier Transportation. The confirmation from Bombardier came several hours later.
About 4 billion will go to Caisse de depot et placement du Quebec which has a 30 per cent stake in the rail unit.
There are currently about 450 employees at the Thunder Bay operation who are currently assembling bilevel vehicles for Metrolinx.
Bombardier also recently left the commercial aerospace industry and the company says it continues selling its assets to reduce debt.
This leaves Bombardier manufacturing Light Executive Jets only.
