A Bombardier C-Series aircraft is displayed at the Singapore Airshow at Changi Exhibition Centre on February 18, 2016.(Edgar Su/Reuters)
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Updated March 9, 2016
PS: But why the help from Ottawa is so important as Bellemare said? Why not just US$2B from Quebec? Something tells me Bombardier wants something from Ottawa that only the Federal Government has control over, can provide, on top of the US$1B... To resume trade with Russia and the new Q400 factory? A $3.4B contract is waiting there...
Updated March 8, 2016
As we expected, 1/3 each of ownership each of Ottawa invests in the CSeries, the future. Certainly, the government will not disagree with Bombardier's direction, who knows the industry. The governments just want to "help" it! Went CSeries is profitable, Bombardier credit rating will go back better, it will buy back the total 100 ownership obviously via their call option on each investment. What I wrote about this already is here: http://www.fliegerfaust.com/the-call-option-160714...
The board seats does not mean much! Meeting once a year for technical paperwork reasons mainly.
Who has the power, control of the new CSeries Company will be defined in a very important document called "shareholders agreement", where each shareholders right, list of veto, power/decisions, etc... are defined, limited, etc... How each of them could buy each other's out, etc...
Don`t worry, nobody wants the governments to be "controlling" the CSeries, governments just want to help Bombardier cash wise for a while and get their part of the CSeries bought back, cashing back the $ invested, and leave ASAP with Bombardier and CSeries saved. Something interesting is to see how the Canadair acquisition by Bombardier from the Canadian government was structured...
Stay tune for this big quote to come up in the Media "Government will have a Say since Controlling CSeries with a Majority of Board Members".
It is obvious, making a statement like this, shows no knowledge of how a company is ran, the corporate law in Canada. Is it all about using the News to make a Show or pretending something else with it? Getting millage on it and not properly understanding "What it really means", still after being told? ;-) Is anyone still seeking the Truth?
Back to the real subject… What power do you think a board that will meet once a year or so will have? Rubber Stamping?
"believe those who are seeking the truth; doubt those who find it; doubt everything, but don't doubt of yourself" André Gide