On June 3, 2019, Bombardier Inc. (TSX: BBD.B) confirmed the closing of the previously announced sale of the Q Series aircraft program assets to De Havilland Aircraft of Canada Limited (formerly Longview Aircraft Company of Canada Limited), an affiliate of Longview Aviation Capital Corp., for gross proceeds of approximately $300 million. Net proceeds are expected to be approximately $250 million after the assumption of certain liabilities, fees, and closing adjustments.
Longview will carry on the production of Q400 aircraft at the Downsview Facility in Toronto, and will continue performing aftermarket services for Q Series aircraft. Bombardier will provide transitional services and will license certain intellectual property to Longview to facilitate a seamless transition of the Q Series aircraft program.
Bombardier was represented internally by Alain Doré (Associate General Counsel and Head of Legal Services, Mergers and Acquisitions and Corporate Services), Geneviève Lefort (Senior Legal Counsel), Nicholas Cerminaro (Associate General Counsel), Christian Poupart (Vice President, Legal and Contracts) and Allon Pollack (Senior Legal Counsel, Aerostructures & Engineering Services).
Gowling WLG advised Bombardier in this transaction with a team led by Faran Umar-Khitab and Stephen McKersie and which included Parna Sabet-Stephenson, Cara Stoller, Susana Fonseca, Jessica George and Josiah Davis (M&A); Susan Rosen (real estate); Daniel Hayhurst (pensions and benefits); Ian Macdonald and Joseph McDonald (competition); Kevin Sartorio, Shelagh Carnegie, Selena Kim and Kristen Kilroy (intellectual property); and Cynthia Elderkin and Garrett Hamel (regulatory).