Image Source: AsiaOne
Bombardier Concludes Sale of the CRJ Series Regional Jet Program to Mitsubishi Heavy IndustriesGlobeNewswireJune 01, 2020All amounts in this press release are in U.S. dollars unless otherwise indicated.MONTREAL, June 01, 2020 (GLOBE NEWSWIRE) -- Bombardier (TSX: BBD.B) confirmed today the closing of the previously announced sale of the CRJ Series aircraft program to Mitsubishi Heavy Industries, Ltd (MHI) (TOKYO:7011) 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.
Source: AsiaOne