Montreal advised Aimia on sale of Aeroplan loyalty program to Air Canada for C$497m

Our Montreal office is advising Aimia Inc. on the sale of all of the shares of Aimia Canada Inc., owner and operator of the Aeroplan loyalty program business, to Air Canada, for an all-cash purchase price of C$450 million, in addition to Air Canada indirectly assuming approximately C$1.9 billion of miles-related redemption liabilities. At closing, Aimia will repay all outstanding indebtedness under its credit facility and senior secured notes. The transaction, entered into on November 26, 2018, requires approval of common and preferred shareholders and is expected to close in mid-January 2019.

Aimia Inc.'s data-driven marketing and loyalty analytics provides clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both our clients and consumers. Aimia partners with groups of companies and individual companies to help generate, collect and analyze customer data and build actionable insights. Its businesses include Aeroplan in Canada and Air Miles Middle East.

The team is co-led by Stephen J. Kelly and Elliot Shapiro and included Amar Leclair-Ghosh, Peter Wiazowski, Andrea Brewer, Robert Percival, Meghan Stewart, Stephen Nattrass, Louis Gratton, Julia Godolphin and Carl Boulva.