Uncertainty rises in sale of Bombardier’s aerostructures business to Spirit
Aerospace companies struggling to close $500-million deal as deadline looms.
Spirit filed documents with U.S. regulatory authorities Tuesday confirming that the deal may not close by the end date of Oct. 31, which its says could prompt litigation from Bombardier.
The filing to the U.S. Securities and Exchange Commission comes one week after Spirit submitted forms stating the agreement will automatically terminate if conditions, which include no major adverse changes to the business, are not satisfied before November.
Bombardier spokesman Olivier Marcil says the two companies are still working to meet the closing conditions and complete the transaction, and that “premature conclusions” should not be drawn.
The half-billion-dollar sale of Bombardier plants that produce fuselage and wing components in Belfast and Morocco forms a key part of its shift from a commercial plane-and-train maker to a pure-play manufacturer of private jets.