Airbus and Bombardier Ink 20-Year Passenger Jet Partnership -- Update
16 Outubro 2017 - 10:10PM
Dow Jones News
By Jacquie McNish and Paul Vieira
TORONTO -- Airbus SE is acquiring a 50.01% stake in Bombardier
Inc's CSeries jets in a bid to restore market confidence in the
struggling passenger aircraft.
Airbus CEO Tom Enders said the company was not investing any
money upfront for its majority stake, but it will provide ongoing
funding support. When the partnership deal closes, Bombardier will
be left with a 31% stake in the CSeries
Canada's Innovation Minister, Navdeep Bains, said in a statement
the Airbus-Bombardier pact would be subject to a review under the
country's foreign-investment laws. Under Canadian law, the
government reserves the right to reject a foreign takeover or
investment if officials deem the transaction would not bring a
substantial benefit to the economy.
However, Mr. Bains said that "on the surface," the Airbus deal
for Bombardier's CSeries "would help position the C Series for
success by combining excellence in innovation with increased market
access and an unrivaled global salesforce."
Canada has been a crucial backer of the CSeries. It provided
financial assistance earlier this year to Bombardier, in terms of a
C$372.5 million loan, to help the company develop the CSeries and
Global 700 aircraft. However, the federal financing was short of
the initial demand from Bombardier for a $1 billion lifeline.
Write to Jacquie McNish at Jacquie.McNish@wsj.com and Paul
Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
October 16, 2017 19:55 ET (23:55 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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