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Bombardier to get less cash in amended deal with Spirit

A Bombardier plant is seen in Montreal on Friday, June 5, 2020.
A Bombardier plant is seen in Montreal on Friday, June 5, 2020. Paul Chiasson/The Canadian Press

Bombardier Inc. says it will receive less cash than it originally had agreed to in the sale of its aerostructures business to Spirit AeroSystems Holding Inc.

The company says it will receive US$275 million in cash in the amended deal, down from the US$500 million in cash that was first announced last year.

Spirit will also assume liabilities, including government refundable advances and pension obligations, valued at US$824 million.

READ MORE: Uncertainty rises around sale of Bombardier plants to Spirit

The sale includes operations in Belfast, U.K., and Casablanca, Morocco, as well as a maintenance, repair and overhaul facility in Dallas.

Concerns about the future of the deal were raised last month after Spirit said some closing conditions were unmet, injecting a degree of uncertainty into the deal.

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Bombardier said Monday the closing conditions have been met and the transaction is expected to close on Friday.

Click to play video 'Bombardier announces 2,500 job cuts, most of them in Quebec' Bombardier announces 2,500 job cuts, most of them in Quebec
Bombardier announces 2,500 job cuts, most of them in Quebec – Jun 5, 2020