MARCOPOLO REDUCES SHARE IN NEW FLYER
Marcopolo S.A., through its wholly-owned subsidiary, Marcopolo Canada Holdings Corp., has sold 4.5 million common shares of Canadian bus manufacturer New Flyer, which represent approximately 7.4% of the issued and outstanding common shares of New Flyer. Following the sale, Marcopolo still owns 6,587,834 common shares, representing approximately 10.8% of the issued and outstanding common shares. Which means that Marcopolo remains the company’s largest shareholder.
In the wake of the sale, New Flyer and Marcopolo re-affirmed their ongoing commercial cooperation initiatives under their 2013 Memorandum of Understanding, pursuant to which the two companies have been exploring opportunities to cooperate on engineering, technical, purchasing and operational matters, and assessing Marcopolo’s technology and products for possible introduction into the Canadian and U.S. markets through New Flyer, as well as New Flyer’s technology and products for potential distribution into global markets.