On August 21, 2018, a consortium consisting of Air Canada, Toronto-Dominion Bank ("TD"), Canadian Imperial Bank of Commerce ("CIBC") and Visa Canada Corp. ("Visa") entered into an agreement in principle for the acquisition of Aimia's Aeroplan loyalty business.
The aggregate purchase price consists of $450 million in cash and the assumption of approximately $1.9 billion of Aeroplan Miles liability.
Fasken is representing Air Canada with a team that includes Neil Kravitz (M&A), Costa Ragas (M&A), Claude Jodoin (tax), Stephen D.A. Clark, Kathleen Butterfield (financial institutions, commercial), Huy Do, John Pecman, Chris Margison and Jenna Ward (Competition and regulatory) and Samuel Rickett and Luc Beliveau.
