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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  CAE Inc.    CAE   CA1247651088

CAE INC.

(CAE)
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CAE : Textron to sell part of flight simulation unit to Canada's CAE for $40 million

11/25/2020 | 06:23am EST
FILE PHOTO: A Cessna 525A CitationJet CJ2+ plane of German JK JetKontor lands at Riga International Airport, in Riga

(Reuters) - Cessna business jet maker Textron Inc said on Wednesday it has agreed to sell a portion of its flight simulation and training business to Canada's CAE Inc for $40 million in cash.

The assets being sold include Textron's flight simulator manufacturing operations in Montreal, as well as certain entities in France and Malaysia and a minority interest in a joint venture in Iceland.

Textron's flight simulation and training operations in Tampa, Florida are not included in the sale, the company said.

The deal is expected to close during the fourth quarter of 2020 or in early 2021.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shailesh Kuber)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CAE INC. 1.00% 30.22 Delayed Quote.-15.17%
TEXTRON INC. 0.46% 49.96 Delayed Quote.2.90%
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Financials
Sales 2021 2 996 M 2 349 M 2 349 M
Net income 2021 -6,33 M -4,96 M -4,96 M
Net Debt 2021 1 913 M 1 500 M 1 500 M
P/E ratio 2021 -997x
Yield 2021 -
Capitalization 8 460 M 6 631 M 6 633 M
EV / Sales 2021 3,46x
EV / Sales 2022 3,00x
Nbr of Employees 10 000
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 35,56 CAD
Last Close Price 29,92 CAD
Spread / Highest target 43,7%
Spread / Average Target 18,8%
Spread / Lowest Target 6,95%
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Managers and Directors
NameTitle
Marc Parent President, Chief Executive Officer & Director
John Paul Manley Chairman
Pascal Grenier VP-Global Operations, Technologies & Innovation
Sonya Branco Chief Financial Officer & Vice President-Finance
Michael M. Fortier Independent Director
Sector and Competitors