RE:Great move by SavariaSo it is just like I sell my old car to the dealer and lease it back. I got a lump sum amount and now pay every month a lease amount. Whether it is great move or not will depends how much SIS will pay for leasing and how much is the saving in interest cost of $29M. May be SIS is freeing the money for acquiring new asset/company.
BSdetector2016 wrote: LAVAL, Qubec, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria”) (TSX: SIS), one of the global leaders in the accessibility industry, announces today that it has concluded, through its subsidiary Garaventa (Canada) Ltd., a sale and leaseback transaction relating to its manufacturing plant located in Surrey, British Columbia, which was sold for a gross selling price of $29 million. The agreement provides Savaria with a long-term lease for the next 25 years.