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Gold/Mining/Energy : Bombardier, maker of planes and trains and other things
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To: Gilbert Drapeau who wrote (1102)4/28/2003 10:53:58 AM
From: Gilbert Drapeau   of 1177
 
Bombardier Provides Update on Divestiture Process for
Recreational Products Business

MONTREAL, QUEBEC--APRIL 28, 2003 - 10:39 EST
Bombardier Inc. confirmed today it has
commenced the sales process for the divestiture of the
recreational products business and that it has received numerous
expressions of interest from both financial and strategic buyers.
The Confidential Information Memorandum will be sent out to
qualified interested parties in early May.

Bombardier also confirmed that the recreational products business
will be sold as a single entity in order to maximize value to
Bombardier shareholders. It indicated that the business will not
be sold to a direct competitor as this would require regulatory
approvals, which may be impossible to obtain, or would result in
unacceptable delays in closing a transaction. The committee of
independent directors responsible for overseeing the divestiture
process has also concluded that such a delay would not be
compatible with maintaining the optimal value of the business and
with completing this important step in Bombardier's
recapitalization program on a timely basis.

Bombardier Inc., a diversified manufacturing and services
company, is a world-leading manufacturer of business jets,
regional aircraft, rail transportation equipment and motorized
recreational products. It also provides financial services and
asset management in business areas aligned with its core
expertise. Headquartered in Montreal, Canada, the Corporation has
a workforce of some 75,000 people and manufacturing facilities in
25 countries throughout the Americas, Europe and Asia-Pacific.
Its revenues for the fiscal year ended Jan. 31, 2003 stood at
$23.7 billion Cdn. Bombardier shares are traded on the Toronto,
Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).
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