Bombardier (TSX: BBD.B) today confirmed the completion of the previously announced sale of its Downsview property to the Public Sector Pension Investment Board for approximately $635 million US. This sale increases Bombardier’s cash position by more than $550 million US net of transaction and other associated costs.

Pursuant to a lease agreement with the purchaser, Bombardier will continue to operate from Downsview for a period of up to three years, with two optional one-year extension periods.