Valuation through simple math.Qubec buys 49.5% of CSeries + 100 000 000 warrants @ exercise price of $1.72US for $1 000 000 000 US. Giving the CSeries a value of $2 020 202 020 US in June 2016.
Now 50.01% was given away to Airbus and Bombardier is obligated to invest another $700 000 000 in the project without getting an increased equity Stake.
Using the 2016 valuation, Bombardier now owns 31% of $2 020 202 020 US = $ 626 262 626
They have to invest $ 700 000 000 into an investment with a present value of $626 000 000
How can you see this as a good deal? Don't forget the stock dilution from the 100 000 000 warrants.
Dead Dog!!!!!