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BRIEF-Mitsubishi Heavy Industries To Acquire Canadair Regional Jet Program From Bombardier

Published 2019-06-25, 09:37 a/m
Updated 2019-06-25, 09:40 a/m
© Reuters.  BRIEF-Mitsubishi Heavy Industries To Acquire Canadair Regional Jet Program From Bombardier

June 25 (Reuters) - Bombardier Inc BBDb.TO :

* MITSUBISHI HEAVY INDUSTRIES TO ACQUIRE CANADAIR REGIONAL JET PROGRAM FROM BOMBARDIER INC.

* MITSUBISHI HEAVY INDUSTRIES TO ACQUIRE CANADAIR REGIONAL JET PROGRAM FROM BOMBARDIER INC.

* BOMBARDIER - PROPOSED DEAL FOR CASH CONSIDERATION OF $550 MILLION

* BOMBARDIER - BOMBARDIER'S NET BENEFICIAL INTEREST IN REGIONAL AIRCRAFT SECURITIZATION PROGRAM (RASPRO) IS VALUED AT APPROXIMATELY $180 MILLION USD

* BOMBARDIER - CRJ PRODUCTION FACILITY IN MIRABEL, QUÉBEC WILL REMAIN WITH BOMBARDIER

* BOMBARDIER - DEAL INCLUDES ASSUMPTION BY MHI OF LIABILITIES AMOUNTING TO APPROXIMATELY $200 MILLION USD

* BOMBARDIER - BOMBARDIER WILL CONTINUE TO SUPPLY COMPONENTS AND SPARE PARTS AND WILL ASSEMBLE CURRENT CRJ BACKLOG ON BEHALF OF MHI

* BOMBARDIER - AGREEMENT CONTEMPLATES A REVERSE BREAK FEE PAYABLE BY MHI UNDER CERTAIN CIRCUMSTANCES.

* BOMBARDIER - CRJ PRODUCTION IS EXPECTED TO CONCLUDE IN SECOND HALF OF 2020, FOLLOWING DELIVERY OF CURRENT BACKLOG OF AIRCRAFT

* BOMBARDIER - WILL ALSO RETAIN CERTAIN LIABILITIES REPRESENTING A PORTION OF CREDIT AND RESIDUAL VALUE GUARANTEES TOTALING APPROXIMATELY $400 MILLION USD

* BOMBARDIER - AGREEMENT CONTEMPLATES A REVERSE BREAK FEE PAYABLE BY MHI UNDER CERTAIN CIRCUMSTANCES.

* BOMBARDIER - BOMBARDIER'S NET BENEFICIAL INTEREST IN RASPRO WILL BE TRANSFERRED TO MHI.

* BOMBARDIER - CO'S NET BENEFICIAL INTEREST IN RASPRO, VALUED AT ABOUT $180 MILLION, WILL BE TRANSFERRED TO MHI

* BOMBARDIER - CO'S NET BENEFICIAL INTEREST IN RASPRO VALUED AT ABOUT $180 MILLION WILL BE TRANSFERRED TO MHI

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