Aeroplan Transaction

//Aeroplan Transaction
Aeroplan Transaction 2018-12-06T08:43:18+00:00
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Information posted in this section was accurate at the time of posting but may be superseded by subsequent news releases or circumstances.

MANAGEMENT INFORMATION CIRCULAR

December 6, 2018
Notice of Special Meeting of Shareholders and Management Information Circular
English | French

RELEASES

November 26, 2018

Aimia and Air Canada Enter into Definitive Agreement for Purchase of the Aeroplan Loyalty Business

  • Aeroplan loyalty business to be sold to Air Canada for all-cash purchase price of $450 million, with miles-related future redemption liabilities transferring to Air Canada at closing
  • Transaction subject to regulatory and shareholder approvals, with Aimia shareholder meeting to be held on January 8, 2019, and transaction expected to complete in January of 2019

Montreal, November 26, 2018 – Data-driven marketing and loyalty analytics company Aimia Inc. (TSX:AIM) (“Aimia”) today announced that it has entered into a definitive share purchase agreement (the “Agreement”) with Air Canada for the purchase by Air Canada of all of the issued and outstanding share capital of Aimia Canada Inc. (“Aimia Canada”), the owner and operator of the Aeroplan loyalty program, for an all-cash purchase price of $450 million on a cash-free, debt-free basis.
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 To view the agreement between Aimia Inc and Air Canada, please visit the following SEDAR link.

August 21, 2018

Air Canada, TD, CIBC, Visa and Aimia Reach Agreement in Principle for Acquisition of Aeroplan Loyalty Business

  • Purchase price consists of $450 million in cash and the assumption of approximately $1.9 billion of Aeroplan Miles liability
  • Agreement in principle was unanimously approved by Aimia’s Board of Directors and is supported by Mittleman Brothers
  • Transaction would provide value for Aimia and its shareholders and continuity for Aeroplan members and customers of Air Canada, TD, CIBC and Visa
  • Transaction subject to negotiation of definitive agreements and other conditions; completion expected fall 2018

Toronto, August 21, 2018 – Air Canada, The Toronto-Dominion Bank (“TD”), Canadian Imperial Bank of Commerce (“CIBC”), Visa Canada Corporation (“Visa”) (collectively, “the Consortium”) and Aimia Inc. (“Aimia”) announced today that they have entered into an agreement in principle for the acquisition of Aimia’s Aeroplan loyalty business.   
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