October 17, 2017 / 12:22 AM / a year ago

BRIEF-Airbus and Bombardier to become partners on the C series aircraft programme

Oct 16 (Reuters) - Airbus Se:

* Airbus says co, Bombardier are to become partners on the c series aircraft programme; corresponding agreement was signed on Oct 16

* Airbus says co to acquire majority stake in the C series aircraft limited partnership‍​

* Airbus says Airbus will acquire a 50.01pct interest in C series aircraft limited partnership at closing

* Airbus says under deal, co to provide procurement, sales, marketing, customer support expertise to the C series aircraft limited partnership

* Airbus says CSALP’s headquarters and primary assembly line and related functions will remain in québec

* Airbus says Bombardier and investissement Québec will own about 31pct and 19pct respectively in C series aircraft limited partnership

* Airbus ‍​says deal also contemplates Bombardier will continue with its current funding plan of CSALP

* Airbus says Airbus will be entitled to name the chairman of CSALP

* Airbus says CSALP's board will initially consist of seven directors, four of whom will be proposed by Airbus, two by Bombardier, and one by IQ

* Airbus - deal has been approved by the boards of directors of both Airbus and Bombardier, as well as the cabinet of the government of Québec

* Airbus says deal also provides for issuance to Airbus, upon closing, of warrants exercisable to acquire up to 100 million class b shares of bombardier Source text for Eikon: Further company coverage:

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