Bombardier Announces Closing Date, Amended Terms for Sale of Aerostructures Business to Spirit AeroSystems Holding, Inc.

  • All closing conditions have been met and the parties have agreed on an October 30, 2020 closing date

  • Total transaction valued at ~ $1.2 billion1; cash proceeds now expected to be $275 million

  • Sale supports Bombardier’s repositioning as a pure-play business jet company and further strengthens liquidity

All amounts in this press release are in U.S. dollars unless otherwise indicated.

MONTREAL, Oct. 26, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today it has entered into an amended definitive agreement to sell its aerostructures business to Spirit AeroSystems Holding, Inc. (Spirit), supporting Bombardier’s strategic decision to reposition itself as a pure-play business aircraft company. This transaction is set to close on October 30, 2020 as all closing conditions have been met.

Under the amended agreement, Spirit will acquire Bombardier’s aerostructures activities and aftermarket services operations in Belfast, U.K.; Casablanca, Morocco; and its aerostructures

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