Montreal advised Aimia on the sale of its Aeroplan loyalty business to Air Canada for C$2.4bn

Our Montreal office acted as counsel to Aimia Inc. in connection with the sale of all the shares of Aimia Canada Inc., the owner and operator of the Aeroplan loyalty program business, to Air Canada, pursuant to the share purchase agreement entered into and announced on November 26, 2018. The final aggregate purchase price for the acquisition consisted of C$517m in cash plus C$47m in cash for pre-closing adjustments related to lower net liabilities assumed than projected. In addition, approximately C$1.9bn in liabilities were assumed by Air Canada as part of the transaction having an enterprise value of approximately C$2.4bn.

The team was co-led by Elliot Shapiro and Stephen J. Kelly and included Amar Leclair-Ghosh, Peter Wiazowski, Meghan Stewart, Stephen Nattrass, Julia Godolphin and Carl Boulva.