Sabia soutient toujours Bombardier


CDPQ CEO Sabia on Global Trade, Credit and Bombardier Relationship

Caisse de Depot et Placement du Quebec Chief Executive Officer Michael Sabia talks with Bloomberg's Erik Schatzker ahead of the Group of 20 summit in Buenos Aires.

« [Erik Schatzker, Bloomberg] — The Caisse has a deep relationship with Bombardier. Recently, there has been a lot of focus on the option Bombardier has to buy back the stakes in its rail business that you own. What is going to happen there?

[Michæl Sabia] — Well. I’m not gone to tell you. Because, as you know, we don’t talk about those kind of things.

Nous entretenons une relation avec Bombardier depuis longtemps déjà, à plusieurs niveaux. Nous sommes heureux de notre investissement dans la division transport [BT Holdco] de l’entreprise. Nous avons pleinement confiance en la direction de la société. Je crois qu’Alain Bellemare orchestre un revirement substantiel. [Traduction libre.]

So, you know, we will see what happens. We will see what the future brings. If, at some point, it makes sense for Bombardier and for us to change the nature of that relationship, potentially to have the buy us back, that is something that we will always be open to doing.

[Schatzker]— Would you be open to restructure that agreement to make it easier for Bombardier to do that?

[Sabia] — Now you are taking me too far. You are asking me to talk about how we are gone to manage a specific file, and you know I am not gone to do that. I am just gone to say we have a good relationship with them. We have a lot of confidence in the management team. We think they are doing a lot of the right things. Nothing is perfect. There are always speed bumps. There are always bumps in the road. That is the nature of life. That is the nature of running a big organisation. So, we know, we continue to have a close relationship with them and we will see what the future brings. »

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