Canadarm maker back in Canadian hands
December 30, 2019
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U.S. satellite imagery company Maxar Technologies Inc said on Monday it would sell its space robotics business to a consortium led by Northern Private Capital (NPC) for $1 billion, in a bid to ease its debt.
The sale of the business, called MacDonald, Dettwiler and Associates (MDA), will include all of MDA’s Canadian operations.
“This transaction combined with the recently completed sale of real estate in Palo Alto reduces Maxar’s overall debt by more than US$1 billion,” chief financial officer Biggs Porter told the Financial Post. As of September, Maxar had a total debt of US$3.1 billion.
Northern Private Capital (NPC) is a Toronto-based investment firm led by billionaire John Risley and Andrew Lapham.