Mitsubishi Heavy Industries Ltd. closed its acquisition of Bombardier Inc.'s Canadair Regional Jet Program for about $550 million.

The deal is subject to post-closing adjustments and the assumption of liabilities by Mitsubishi Heavy Industries related to credit and residual value guarantees and lease subsidies of about $200 million.

As part of the sale, Bombardier's $170 million net beneficial interest in the Regional Aircraft Securitization Program was transferred to Mitsubishi Heavy Industries.

Bombardier will continue to manufacture parts for and assemble the remaining 15 CRJ aircraft in the backlog as of March 31 on behalf of Mitsubishi Heavy Industries.