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Bombardier confirmed on June 7 that it has completed the previously announced sale of its Downsview property to the Public Sector Pension Investment Board for approximately US$635 million. This sale increases Bombardier’s cash position by more than US$550 million, net of transaction and other associated costs.
Pursuant to a lease agreement with the purchaser, Bombardier will continue to operate from Downsview for a period of up to three years, with two optional one-year extension periods.
