November 24, 2014
Government of Québec invests US$1B in Bombardier CSeries
October 31, 2015 | Manufacturing Group
Montréal – Bombardier has entered into a memorandum of understanding which contemplates a US$1.0 billion investment by the Ministère de l’Économie, de l’Innovation et des Exportations du Québec for a 49.5% equity stake in a newly-created limited partnership to which would be transferred the assets, liabilities, and obligations of the CSeries aircraft program. This newly created limited partnership will be owned 50.5% by Bombardier and, as a subsidiary of Bombardier, will carry on the operations related to the corporation’s CSeries aircraft program.
After the investment, the newly created limited partnership will continue to be consolidated in Bombardier’s financial results. The investment has been approved by the board of directors of Bombardier and the cabinet of the Government of Québec, and remains conditional upon the completion of definitive agreements and required regulatory approvals, which are expected by Jan. 1, 2016.