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The Canadian Press

Bombardier sells regional jet business to Japanese firm Mitsubishi

MONTREAL — Bombardier Inc. has signed a deal to sell its regional jet program to Mitsubishi Heavy Industries Ltd.

Under the deal, Mitsubishi will pay US$550 million in cash and assume liabilities totalling about US$200 million.

The Japanese company will acquire the maintenance, support, refurbishment, marketing and sales activities for the CRJ Series aircraft.