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Company News

BUZZ-Bombardier shares rise as co to sell regional jet business for $550 mln

** Shares of Canadian plane and train maker rise as much as 5% to C$2.30

** Bombardier to sell its money-losing regional jet business to Japan’s Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash

** As part of deal, expected to close in H1 2020, MHI will also take over $200 million in debt

** “MHI was the most logical buyer, and the one that we believed would be able to justify paying the greatest value” - TD Securities

** Bombardier stock has risen 7.9% this year, compared with a 15.4% increase in the main Toronto Stock Exchange index . (Reporting by Debroop Roy in Bengaluru)

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