Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a partner and innovator in Earth Intelligence and Space Infrastructure, has announced it has closed the sale of MDA, previously a wholly owned subsidiary of the company, to a consortium of investors led by Northern Private Capital for CAD 1 billion, the company said.
Net proceeds, including customary adjustments, and after application of currency hedges related to the transaction is expected to be approximately CAD 729 million.
After deducting fees, expenses and any reserves for contingencies, the proceeds will be used to reduce indebtedness as proscribed in the company´s credit arrangements.
Maxar combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions and deliver insights with unrivaled speed, scale and cost effectiveness. For more information, visit www.maxar.com.