Mitsubishi Heavy Industries is acquiring the Canadair Regional Jet program from Bombardier. This transaction completes Bombardier’s aerospace transformation and refocuses the company on business aviation, while providing Mitsubishi with a customer service network, customer relationships, and key assets that it will require as it enters the regional jet business with the M90 and M100 aircraft.
The transaction will be for a cash consideration of $550 million, payable to Bombardier on closing, and the assumption by MHI of liabilities amounting to approximately $200 million, with Bombardier’s net beneficial interest in the Regional Aircraft Securitization Program, valued at $180 million USD, transferred to MHI.
The CRJ production facility in Mirabel will remain with Bombardier
, who will continue to supply components and spares and will assemble the current CRJ backlog on behalf of MHI. CRJ production is expected to conclude in the second half of 2020. Bombardier will also retain certain liabilities from residual value guarantees totaling approximately $400 million. The transaction is expected to close during the first half of 2020.
Mitsubishi Heavy Industries is acquiring the Canadair Regional Jet program from Bombardier.This transaction completes Bombardier’s aerospace transformation and refocuses the company on business aviation, while providing Mitsubishi with a customer service network, customer relationships, and key assets that it will require as it enters the regional jet business with the M90 and M100 aircraft.
The transaction will be for a cash consideration of $550 million, payable to Bombardier on closing, and the assumption by MHI of liabilities amounting to approximately $200 million, with Bombardier’s net beneficial interest in the Regional Aircraft Securitization Program, valued at $180 million USD, transferred to MHI.
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