Air Canada finalises terms of USD575.6m substantial issuer bid
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Background ✨
Air Canada said funds managed by Blackstone and La Caisse, alongside other Canadian institutions, agreed a CAD2.5 billion minority investment for a 25% non-controlling stake in Aeroplan, valuing the loyalty programme at CAD10 billion, while Air Canada retained operational control and consolidation accounting1. It said proceeds would support repayment of an upcoming USD1.2 billion bond maturity and accelerate share repurchases under its long term strategic plan, with settlement planned for 17-Aug-20261.