Mitsubishi Heavy Industries Ltd. to acquire the Canadian Regional Jet program from Bombardier Inc.

Goodmans LLP is one of the Canadian counsel representing Mitsubishi Heavy Industries Ltd. (“Mitsubishi”) in connection with its agreement to acquire the Canadian Regional Jet (“CRJ”) Program from Bombardier Inc. for USD $550 million.

Under the terms of the agreement, Mitsubishi will pay USD $550 million in cash and assume approximately $200 million worth of debt and other liabilities. Mitsubishi will also take over the maintenance, support, refurbishment, marketing and sales activities for the jets, including services and support facilities in Montreal, Toronto, Bridgeport, West Virginia and Tucson, Ariz.