logo
Plus   Neg
Share
Email

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Whole Foods Market stores have recalled Decorated Red Apple Cookies as they may contain undeclared egg. People who have an allergy or severe sensitivity to these allergens run the risk of serious or life-threatening allergic reaction if they consume these products. The cookies were sold by the... Norwex has announced voluntary recall of about 58,000 rubber brooms due to laceration hazard. According to the company, handles of the recalled brooms can break in half, exposing a metal inner rim, posing a laceration hazard to the user. The recall involves extendable indoor/outdoor white rubber... Amazon.com Inc. has expanded its AmazonFresh grocery delivery service to three new cities. Beginning today, Amazon Prime members in Houston, Minneapolis and Phoenix can shop thousands of products, ranging from meat and seafood to fresh produce and everyday essentials. The groceries will be delivered to their homes in two hours or less, with options for one-hour and two-hour delivery.
Follow RTT