Image Source: AsiaOne
Bombardier Confirms the Closing of the Aerostructures Business Transaction GlobeNewswire October 30, 2020 All amounts in this press release are in U.S. dollars unless otherwise indicated. MONTREAL, Oct. 30, 2020 (GLOBE NEWSWIRE) -- The closing of the previously announced aerostructure business transaction between Bombardier Inc. (TSX: BBD.B) and Spirit AeroSystems Holding, Inc. (NYSE : SPR) came into effect today on October 30, 2020. Spirit now owns Bombardier’s aerostructures activities and aftermarket services operations in Belfast, U.K.; Casablanca, Morocco; and its aerostructures maintenance, repair and overhaul (MRO) facility in Dallas, U.S. in exchange for cash consideration of $275 million, Spirit’s assumption of liabilities, including government refundable advances, pension obligations, as well as certain adjustments to the parties’ trading agreements favourable to Bombardier. The total transaction value is approximatively $1.2 billion.