logo
Plus   Neg
Share
Email

Maxar Announces Sale Of MDA - Quick Facts

Maxar Technologies (MAXR, MAXR.TO) has agreed to sell MDA to a consortium of financial sponsors led by Northern Private Capital, for C$1 billion. The deal includes all of MDA's Canadian businesses, ground stations, radar satellite products, robotics, defense, and satellite components. Maxar said the deal combined with the recently completed sale of real estate in Palo Alto reduces the company's overall debt by more than $1 billion and significantly reduces leverage ratio.

"The loss of future cash flow from MDA will be significantly offset by interest savings from the reduction of debt. We expect the net effect of all these factors to only reduce our prior guidance for adjusted EBITDA and free cash flow generation in the 2022 to 2023 time period by approximately $50 million," said Biggs Porter, Maxar CFO.

Maxar expects to use proceeds to reduce leverage and improve capital structure to prioritize investments for growth in its core areas of Earth Intelligence and Space Infrastructure.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
South Korea's Hyundai Motor Co. announced its decision to suspend production at its Asan plant for two days starting on Monday due to a chip shortage amid the pandemic crisis, Reuters reported. The company is experiencing trouble in supply conditions for semiconductor parts for powertrain control units. The Asan factory manufactures 300,000 vehicles, including the Sonata and Grandeur sedans, each The U.S. Department of Health and Human Services is set to expand its Health Center COVID-19 Vaccine Program to include all HRSA-funded health centers. This will increase the total number of health centers that have been invited to join the program to 1,470 nationwide from the earlier 950. McDonald's Corp. is planning to hire 25,000 workers in its restaurants across Texas in April, reports said. In a three-day event from April 13 to 15, the fast-food chain is expected to hire for crew and management positions. During these hiring days, participating McDonald's restaurants in the state will be accepting applications and interviewing job seekers.
RELATED NEWS
Follow RTT