Bombardier train unit to get US$1.5b from Quebec pension fund

Ottawa

BOMBARDIER is on steadier financial ground, as Quebec's pension fund moved on Thursday to buy a nearly one-third stake in the company's train and transit group for US$1.5 billion.

Just weeks ago, the provincial government of Quebec provided a US$1 billion infusion into Bombardier. Together, the investments will help shore up Bombar-dier's cash reserves, which have been squeezed by the company's struggles with a new commercial jet.