Canadian Plastics

Bombardier to get less for sale of division

Bombardier will get less money for the sale of its recreational products division as a result of the higher Canadia...

December 4, 2003   Canadian Plastics

Bombardier will get less money for the sale of its recreational products division as a result of the higher Canadian dollar, according to a report published this week. The company, which announced its plans to sell the division in August, has signed a deal with a corporation formed by Bain Capital, the Bombardier family and the Caisse de depot pension setting the purchase price at $960 million, a drop of $115 million from the previously announced $1.08 billion.
According to a Bombardier spokesperson, the drop in price is mainly due to the continued appreciation of the Canadian dollar relative to the U.S. dollar, which in turn adversely affects the value of the recreational products business.


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