12:44 PM EST - CAE Inc. : Has concluded the previously announced strategic partnership with Directional Aviation Capital (DAC), one of the largest, fastest growing, and most innovative corporate aviation service companies globally, as well as the acquisition of 50 percent of the shares of SIMCOM Holdings Inc. As part of this transaction, which was first announced on August 29, 2019, CAE acquired for approximately $85 million U.S., a 50% stake in SIMCOM Holdings, Inc. In addition, DAC's affiliated business aircraft operators, which include Flexjet, Flight Options, Flairjet, Sirio, Nextant Aerospace and Corporate Wings have entered into a 15-year exclusive training services agreement with SIMCOM and CAE. In all, these companies operate 175 business aircraft and have more than 80 aircraft on order. CAE Inc.
shares T.CAE are trading down $0.23 at $33.43.
