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Bombardier Closes Sale Of Business Aircraft Training Unit To CAE

Canada's Bombardier Inc. (BBD_B.TO,BBD_A.TO) confirmed Thursday the conclusion of the previously announced sale of its flight and technical training activities to CAE, for an enterprise value of $645 million.

Net proceeds are expected to be approximately $500 million after the assumption of certain liabilities, fees, and closing adjustments.

Bombardier and CAE also agreed to continue their Authorized Training Provider or ATP relationship pursuant to which CAE carries out the training activities for Bombardier Business Aircraft, including from the training centres located in Montréal and Dallas.

Jean-Christophe Gallagher, Vice President and General Manager, Customer Experience, Bombardier Business Aircraft, said, "As CAE grows its core training business, Bombardier continues to expand its service offerings and dedicated support, each to the benefit of Bombardier Business Aircraft customers around the world."

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