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BlackBerry(R)
Limited
, a world leader in mobile
communications, today announced that it has entered into an agreement
pursuant to which it will sell the majority of its real estate
holdings in Canada. The announced transaction is part of BlackBerry's
ongoing program to improve operational efficiencies, optimize
resource usage and shift resources to support operations as the
business continues to evolve.
Under the terms of the agreement, BlackBerry will sell more than 3
million square feet of space as well as vacant lands. BlackBerry will
also lease back a portion of the space. CBRE Limited served as an
advisor to BlackBerry for this transaction. BlackBerry expects
closing to occur in the first quarter of fiscal 2015. The transaction
is subject to certain conditions, and the transaction may not be
completed on the negotiated terms, or at all. Additional terms of the
transaction will be announced once the principal conditions are
satisfied or waived by the parties.
"The successful sale of property in Canada will help us move toward
our goal of continued operational efficiency," said BlackBerry CEO
and Executive Chair, John Chen. "As previously stated, BlackBerry
remains committed to having a strong presence in Canada and we
continue to consider Waterloo home to our global headquarters."
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