Monday, June 1, 2020
10:07 AM EST – Bombardier Inc. : Confirmed today the closing of the previously announced sale of the CRJ Series aircraft program to Mitsubishi Heavy Industries, Ltd (MHI) for a cash consideration of approximately $550 million, subject to post-closing adjustments and the assumption of liabilities by MHI related to credit and residual value guarantees and lease subsidies amounting to approximately $200 million. Under the agreement, the Corporation’s net beneficial interest in the Regional Aircraft Securitization Program (RASPRO), which is valued at approximately $170 million, has been transferred to MHI. Bombardier Inc. (T.BBD.B) shares were up $0.015 at 0.46.
Stocks in Play: Bombardier Inc., Mon, 01 Jun 2020 10:21:01 EST