CAE closes the sale of its Healthcare business to Madison Industries
CAE Inc. Ordinary Shares (CAE)
Last cae inc. ordinary shares earnings: 2/7 08:23 am
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Source: PR Newswire
MONTREAL, Feb. 16, 2024 /PRNewswire/ - (NYSE: CAE) (TSX: CAE) - CAE Inc. (CAE or the Company) today announced the closing of the sale of its Healthcare business to Madison Industries for an enterprise value of C$311 million, subject to customary adjustments. This follows CAE's announcement on October 24, 2023, of the execution of a definitive agreement in respect of the transaction.As previously disclosed, CAE intends to use the net proceeds of this sale principally to accelerate deleveraging, as well as to support its continued focus on technology advancement, market leadership and cost optimization within the Company's core training, simulation, and aviation software markets.With the successful divestiture of the Company's Healthcare business, CAE will further streamline its operating model and portfolio, optimize its cost structure and create efficiencies. To that effect, CAE also announces that it expects to incur restructuring expenses totaling approximately $40 million over the
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CAE
Earnings
- 2/14/24 - Beat
CAE
Sec Filings
- 2/14/24 - Form 6-K
- 2/13/24 - Form SC
- 2/13/24 - Form SC
- CAE's page on the SEC website