Skip to main content
hello world

Provided Content: Content provided by Newswire.ca. The Globe and Mail was not involved, and material was not reviewed prior to publication.

CAE to increase ownership stake in SIMCOM Aviation Training joint venture and extend exclusive Business Aviation training agreement with Flexjet and its affiliates.

Newswire.ca - Mon Nov 4, 4:05PM CST

MONTREAL, Nov. 4, 2024 /CNW/ - (NYSE: CAE) (TSX: CAE) - CAE announced today that it will increase its ownership stake in its existing SIMCOM Aviation Training (SIMCOM) joint venture by purchasing a majority of SIMCOM shares from Volo Sicuro for USD $230 million, subject to customary adjustments, to be financed with CAE's existing credit facility and cash on hand. As part of the transaction, Flexjet, LLC, a related party of Volo Sicuro, will retain a minority stake in SIMCOM following the closing, expected to take place in the coming days. 

Read more at newswire.ca