Marcopolo and New Flyer Industries Inc

Marcopolo and New Flyer Industries Inc

Marcopolo (BOV:POMO3) has agreed to a strategic investment of C $116,4 million (Canadian dollars) in New Flyer Industries Inc.,(TSX:NFI)  Marcopolo (BOV:POMO3) will subscribe to 11,087,834 new shares to be issued by New Flyer Industries Inc., representing 19.99% of the share capital of the company. The common shares will be issued at a price of $10,50 per share. It will be split into two tranches, to start with Marcopolo will subscribe 4,925,530 new shares to be issued on or before 1st. March 2013 with a value of C $51,7 million, and the remaining 6,162,304 shares will be subscribed to by Marcopolo for the same price, up to twelve months from the first date,  based on the need for investment or financing of New Flyer Industries Inc (TSX:NFI).

The investment is subject to approval by the Toronto Stock Exchange, Canada.

Founded in 1949, and headquartered in Caxias do Sul, Brazil, Marcopolo is one of the world’s largest bus builders and is primarily engaged in the manufacturing of buses, bus bodies, and components with a product line covering a wide range of models including: coach, urban, micro-buses, and mini-buses. Marcopolo is listed on the Brazilian stock exchange BM&F Bovespa: (BOV: POMO3).

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