Bombardier Inc. Class A · TSX:BBD.A
Bombardier Inc. Class A — Merger or Acquisition (February 2020)
9 slides from Bombardier Inc. Class A's merger presentation, Feb 17, 2020
Slide 1: Strategically Focusing on Business Aviation
b STRATEGICALLY FOCUSING ON BUSINESS AVIATION STRENGHTENING THE BALANCE SHEET THROUGH THE SALE OF TRANSPORTATION TO ALSTOM FEBRUARY 17th, 2020
Slide 2: Caution Regarding Forward-Looking Statements
CAUTION REGARDING FORWARD-LOOKING STATEMENTS b This presentation includes forward-looking statements, which may involve, but are not limited to: statements with respect to our objectives, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contribu
Slide 3: Transformational Transaction
TRANSFORMATIONAL TRANSACTION b ▪ Alstom to acquire Bombardier Transportation at an Enterprise Value of US$8.2B (€7.45B) ▪ ~12x Adjusted EBIT multiple based on a 3-year average from 2016-2018 ▪ Total proceeds of $6.4 B to 6.8B, after deducting for pensions, other net liabilities and closing adjustmen
Slide 4: Transaction Highlights
TRANSACTION HIGHLIGHTS b OVERVIEW ENTERPRISE VALUE AND PROCEEDS In Billion US$ ▪ Memorandum of Understanding between Bombardier, Enterprise value of €7.45B $8.2 Alstom and CDPQ for the sale of Bombardier Transportation to Alstom Pensions, other net liabilities and closing adjustments $(1.4 – 1.8) ▪
Slide 5: Indicative Transaction Timeline
INDICATIVE TRANSACTION TIMELINE b Feb Bombardier, Alstom and CDPQ signed Memorandum of Understanding with stock 2020 purchase agreement agreed in principle; Alstom has fully committed bridge financing ~4-5 months Works council review expected to lead to execution of stock purchase agreement Formal a
Slide 6: Transaction Builds a Stronger Cash Position and Retires CDPQ's Participation
TRANSACTION BUILDS A STRONGER CASH POSITION AND b RETIRES CDPQ’S PARTICIPATION IN TRANSPORTATION ≥ $4.2B (~$1.0B) ≥ $7.0B ANTICIPATED Up to (~$0.5B) $6.5 - $7.0B CASH AT TRANSPORTATION COMMERCIAL AIRCRAFT EXIT LIABILITIES ~$4.0B NET PROCEEDS FROM SALE OF TRANSPORTATION2 2020 PRO FORMA PRO FORMA PRO
Slide 7: Sale of Transportation Reshapes and Strengthens Bombardier's Capital Structure
SALE OF TRANSPORTATION RESHAPES AND SIGNIFICANTLY STRENGTHENS b BOMBARDIER’S CAPITAL STRUCTURE ~$11.5B $2.1 - $2.3B CDPQ CONVERTIBLE SHARES ($2.1 - $2.3B) $9.3B $9.3B RETIRING CDPQ CONVERTIBLE $6.5 - $7.0B LONG-TERM SHARES DEBT THROUGH SALE OF TRANSPORTATION ~$2.5B PRO FORMA CASH POST-TRANSACTIONS D
Slide 8: Strategically Focusing on Business Aircraft
STRATEGICALLY FOCUSING ON BUSINESS AIRCRAFT b ▪ World leader in business Aviation with best-in-class aircraft portfolio Learjet, Challenger and Global brands ▪ Industry-leading $14.4B backlog ▪ Well positioned for revenue and earnings growth, through introduction of large aircraft and service networ
Slide 9: b
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