CAE to Buy Majority Stake in SIMCOM Aviation Training Joint Venture From Volo Sicuro

CAE will increase its ownership stake in its SIMCOM Aviation Training (SIMCOM) joint venture by purchasing a majority of SIMCOM shares from Volo Sicuro for $230 million, subject to customary adjustments. The transaction is expected to close in the coming days and will be financed with CAE’s existing credit facility and cash on hand, while Flexjet will retain a minority stake. CAE and SIMCOM will also extend exclusive business aviation training services agreements with Flexjet and its affiliates by 5 years, extending the exclusivity period to 15 years.