Bombardier Closes the Sale of its Recreational Products Business.Business Editors MONTREAL--(BUSINESS WIRE)--Dec. 18, 2003 Bombardier Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension SYMBOL: BBD BBD In currencies, this is the abbreviation for the Barbados Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. .A) (TSX SYMBOL: BBD.B) today announced the closing of the sale of its recreational products business to Bombardier Recreational Products Inc., a corporation formed by Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. , members of the Bombardier family and the Caisse Caisse, a French word, may refer to:
Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. from the purchaser's parent company. Cash proceeds initially evaluated at $910 million are impacted by adjustments in the amount of approximately $160 million in favour of the purchaser, to be made at and post closing, for variation in working capital, pension plan funding and other off-balance sheet items. In connection with the sale, the Corporation and the purchaser have entered into certain other agreements, including a trademark licence agreement under which Bombardier will license to the purchaser certain trademarks which will continue to be owned by Bombardier. Those trademarks include Bombardier(i), Challenger(i) and the sprocket wheel symbol. In addition, certain floorplan and other financing arrangements have been entered into by the purchaser with Bombardier Capital. The business sold to Bombardier Recreational Products Inc. includes the activities related to Sea-Doo(TM) watercraft and sport boats, Ski-Doo(TM) and Lynx lynx, name given to several related small, ferocious members of the cat family. All have small heads, tufted ears, and heavy bodies with long legs and short tails. All are primarily terrestrial, although they are able to climb trees. (TM) snowmobiles, Johnson(TM) and Evinrude(TM) outboard Not built in. Outboard devices are external to the main unit. Contrast with inboard. See offboard. engines, Evinrude direct injection and Evinrude E-TEC(TM) technologies, Bombardier(i) ATVs, Rotax(TM) engines and karts, as well as utility vehicles. A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2003 were $21.2 billion Cdn and its shares are traded on the Toronto, Brussels and Frankfurt stock exchanges Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. (BBD, BOM and BBDd.F). News and information are available at www.bombardier.com. N.B. Fiscal year 2002-03 revenues have been restated following the sale of the recreational products business. (i)Trademark(s) of Bombardier Inc. or its subsidiaries (TM) Trademark(s) of Bombardier Recreational Products Inc. |
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