Bombardier Completes Sale of Downsview Property
Bombardier Inc. / Bombardier Completes Sale of Downsview Property . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
MONTREAL, June 07, 2018 (GLOBE NEWSWIRE) -- Bombardier (TSX:BBD.B) today confirmed the completion of the previously announced sale of its Downsview property to the Public Sector Pension Investment Board for approximately $635 million US. This sale increases Bombardier's cash position by more than $550 million US net of transaction and other associated costs.
Pursuant to a lease agreement with the purchaser, Bombardier will continue to operate from Downsview for a period of up to three years, with two optional one-year extension periods.
With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.
Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2017, Bombardier posted revenues of $16.2 billion US. News and information are available at bombardier.com or follow us on Twitter @Bombardier .
Bombardier is a trademark of Bombardier Inc.
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