May 16, 2012 / 3:08 PM / 5 years ago

UPDATE 1-CAE buys Oxford Aviation Academy for C$314 mln

May 16 (Reuters) - Simulation and training systems provider CAE Inc said it bought Oxford Aviation Academy for C$314 million ($312.80 million) to expand its civil aviation training footprint.

The acquisition of Oxford Aviation Academy -- an aviation trainer and crew recruiter -- is expected to add to CAE’s earnings in 2014.

Oxford Aviation Academy had revenue of about C$280 million during CAE’s fiscal year 2012.

CAE said it paid for the deal with a new senior unsecured credit facility.

Shares of CAE were up 6 Canadian cents at C$10.06 on Wednesday morning on the Toronto Stock Exchange.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below