Bombardier Inc. confirmed today it has commenced the sales process for the divestiture of the recreational products business and that it has received numerous expressions of interest from both financial and strategic buyers. The Confidential Information Memorandum will be sent out to qualified interested parties in early May.
Bombardier also confirmed that the recreational products business will be sold as a single entity in order to maximize value to Bombardier shareholders. It indicated that the business will not be sold to a direct competitor as this would require regulatory approvals, which may be impossible to obtain, or would result in unacceptable delays in closing a transaction. The committee of independent directors responsible for overseeing the divestiture process has also concluded that such a delay would not be compatible with maintaining the optimal value of the business and with completing this important step in Bombardier’s recapitalization program on a timely basis.
Bombardier Inc., a diversified manufacturing and services company, is a world-leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorized recreational products. It also provides financial services and asset management in business areas aligned with its core expertise. Headquartered in Montréal, Canada, the Corporation has a workforce of some 75,000 people and manufacturing facilities in 25 countries throughout the Americas, Europe and Asia-Pacific. Its revenues for the fiscal year ended Jan. 31, 2003 stood at $23.7 billion Cdn. Bombardier shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).
For information Dominique Dionne
Vice President, Public Relations and Communication