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