Teams from Stikeman Elliot and the Canadian offices of Norton Rose Fullbright, alongside a host of international law firms, have helped clear the final hurdles in Airbus’ acquisition of a majority stake in Bombardier and Investissement Québec’s C Series Aircraft partnership.
The deal, which was first announced in October 2017 and closed on 8 June, will see Airbus take control of Bombardier’s 100-150-seat C Series programme at the beginning of July.
Bombardier first agreed to sell Airbus a 50.01% stake in the Québec-based partnership in October 2017. Bombardier and Montreal-based investment Investissement Québec will own around 31% and 19% respectively.
The partnership – which will be based at manufacturing facilities in Mirabel, Quebec, supporting more than 2,000 jobs – will see Airbus use its procurement and marketing experience to boost sales of the single-aisle aircraft, which had been slower than anticipated in coming to market. The programme will also support a second assembly line facility open in Alabama to serve US customers for the planes.
The completion of the deal comes after the International Trade Commission (ITC) in Washington, DC, rejected claims by Airbus’s chief competitor Boeing that Bombardier had illegally dumped C Series aircraft in the US. The aircraft were bought by Delta Air Lines.
Alongside Stikeman, Airbus was counselled by European and US teams from Freshfields Bruckhaus Deringer, Cleary Gottlieb Steen & Hamilton, Sidley Austin and Burr & Foreman.
Lawyers from Covington & Burling in Brussels provided European counsel to Bombardier, which retained Norton Rose in Canada.
“The strength of the entire Airbus organization will be behind the C Series,” Airbus CEO Tom Enders said in a statement. “Not only will that enable this outstanding aircraft to fulfil its market potential, but we are convinced the addition of the C Series to our overall aircraft product offering brings significant value to Airbus, our customers and shareholders.”
“This marks the beginning of a very exciting new chapter for the C Series and the Canadian Aerospace industry,” Alain Bellemare, Bombardier president and CEO added. “The C Series is widely recognized as the most advanced and efficient aircraft in its class and this partnership will ensure its commercial success.”
Counsel to Airbus
- Stikeman Elliott
Lead partners Marc Barbeau, Michel Gélinas and Sophie Lamonde in Montréal
Corporate and M&A partner Kris Lachance in Montréal
Regulatory and competition partner Paul Collins in Toronto
Tax partners Luc Bernier and Éric Lévesque in Montréal
Real estate partner Stefan Fews in Montréal
Labour and employment partner Éveline Poirier in Montréal
Pensions and benefits partner Andrea Boctor in Toronto
Environment partner Larry Cobb in Toronto
- Freshfields Bruckhaus Deringer
Corporate and M&A partners Torsten Schreier in Frankfurt and Ralph Kogge in Munich
Finance partner Konrad Schott in Frankfurt
- Cleary Gottlieb
Lead partners Brian Byrne in Washington DC, Daniel Culley in Brussels and Dirk Schroeder in Cologne
Senior Counsel Mark Leddy in Washington DC
Counsel Frederic de Bure in Paris and Tilman Kuhn in Cologne
- Sidley Austin
- Burr & Foreman
Counsel to Bombardier
- Norton Rose Fulbright
Senior partner Paul Raymond in Montréal and partner Nicolas Labrecque in Montréal
M&A partners David Millette and Peter Riddell in Montréal
Tax senior partner Jules Charette in Montréal
Securities managing partner Solomon Sananes in Montréal
Banking partner Peter Wiazowski in Montréal
Real estate partner Jean-Nicolas Prévost in Québec
- Covington & Burling
Partners James O’Connell in Washington DC and Johan Ysewyn in Brussels
Of Counsel Andrea Zulli in Brussels