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BLG representing Mittleman Brothers in the C$2.35B acquisition of the Aeroplan loyalty business by Air Canada-led consortium

Date closed: 08/21/2018

Value: C$2.35 Billion

Air Canada, The Toronto-Dominion Bank, Canadian Imperial Bank of Commerce, Visa Canada Corporation and Aimia Inc. announced on August 21, 2018 that they have entered into an agreement in principle for the acquisition of Aimia's Aeroplan loyalty business.

Mittleman Brothers, LLC, which controls approximately 17.6 % of Aimia's common shares, provided a lock-up and support agreement under which it has agreed to vote in favour of the proposed transaction.

The aggregate purchase price consists of $450 million in cash and is on a cash-free, debt-free basis and includes the assumption of approximately $1.9 billion of Aeroplan Miles liability.

BLG is representing Mittleman Brothers, with a team that includes Alfred Page and Andrew McLean.