Opérations et transactions|1 mars 2013
New Flyer announces acquisition of aftermarket parts business from Daimler Buses North America for approximately C$29 million
Torys acted as counsel to New Flyer with a team that included Rima Ramchandani, Jamie Becker (corporate), Stefan Stauder (New York law), Ebad Rahman (IP), Grace Pereira (Canadian tax) and Cecile Antier (U.S. tax).
On March 1, 2013 New Flyer Industries (New Flyer) announced that it acquired certain assets from Daimler Buses North America (Daimler) relating to its Orion aftermarket parts business for heavy-duty transit buses.
Daimler's Orion parts business generated revenue in 2012 of approximately C$54 million, a portion of which was from supporting the nearly 10,000 Orion buses currently in operation in Canada and the United States. The purchase price for the assets was approximately C$29 million and is subject to post-closing adjustments for working capital which are normal and customary for these types of transactions. The purchase price was funded by using proceeds from the recently announced equity investment by Marcopolo S.A., one of the world's leading global bus manufacturers, which made the first tranche of its investment in New Flyer, totaling C$51.7 million, on February 15, 2013.
New Flyer Industries is a leading manufacturer of heavy-duty transit buses in the United States and Canada, and a leading provider of aftermarket services.
Daimler Buses North America is an operating subsidiary of Daimler AG that engages in the design, manufacture, sale, and after-sale support of transit buses, motorcoaches, and shuttle buses worldwide.
Further information can be found on New Flyer's website.
Daimler's Orion parts business generated revenue in 2012 of approximately C$54 million, a portion of which was from supporting the nearly 10,000 Orion buses currently in operation in Canada and the United States. The purchase price for the assets was approximately C$29 million and is subject to post-closing adjustments for working capital which are normal and customary for these types of transactions. The purchase price was funded by using proceeds from the recently announced equity investment by Marcopolo S.A., one of the world's leading global bus manufacturers, which made the first tranche of its investment in New Flyer, totaling C$51.7 million, on February 15, 2013.
New Flyer Industries is a leading manufacturer of heavy-duty transit buses in the United States and Canada, and a leading provider of aftermarket services.
Daimler Buses North America is an operating subsidiary of Daimler AG that engages in the design, manufacture, sale, and after-sale support of transit buses, motorcoaches, and shuttle buses worldwide.
Further information can be found on New Flyer's website.