Aimia completes sale of investment in BIGLIFE to AirAsia
- Aimia's 20% ownership in BIGLIFE sold for 85,864,583 shares of AirAsia Group Berhad ("AirAsia") (AAGB.MK) following AirAsia's shareholders' approval of the transaction
(All figures referenced in Canadian dollars, except where noted)
TORONTO, June 28, 2021 /CNW/ - Aimia Inc. (TSX: AIM) is pleased to announce the completion of the sale of its 20% equity stake in AirAsia's loyalty company BIGLIFE, previously announced on March 22, 2021, in exchange for 85,864,583 new publicly traded ordinary shares of AirAsia (AAGB.MK) valued at $22.2 million as of June 28, 2021. This transaction was subject to AirAsia's shareholders' approval, which was received on June 21, 2021. Aimia expects to record a gain of approximately $7.7 million on this transaction.
Including AirAsia shares previously purchased by Aimia, Aimia now owns a total of 121,474,409 shares representing an approximate 3.1% equity stake in AirAsia.
Aimia Inc. (TSX: AIM) is a holding company with a focus on long-term investments in public and private companies, on a global basis, through controlling or minority stakes.
The company operates an investment advisory business through its wholly-owned subsidiary Mittleman Investment Management, LLC, and owns a diversified portfolio of valuable investments including a 48.9% equity stake in PLM Premier, S.A.P.I. de C.V. (PLM), owner and operator of Club Premier, the coalition loyalty program in Mexico that operates the Aeromexico Frequent Flyer program, a 48.7% equity stake in Kognitiv, a B2B technology growth company enabling collaborative commerce, a 10.85% stake in Clear Media Limited (100.HK), one of the largest outdoor advertising firms in China, as well as minority stakes in a portfolio of public company securities.
For more information about Aimia, visit www.aimia.com.
Forward-Looking Statements
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Forward-looking statements, by their nature, are based on assumptions and are subject to known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statement will not occur. The forward-looking statements in this press release speak only as of the date hereof and reflect several material factors, expectations and assumptions. Undue reliance should not be placed on any predictions or forward-looking statements as these may be affected by, among other things, changing external events and general uncertainties of the business. A discussion of the material risks applicable to us can be found in our current Management Discussion and Analysis and Annual Information Form, each of which have been or will be filed on SEDAR and can be accessed at www.sedar.com. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and we disclaim any intention and assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For more information, please contact:
SOURCE Aimia Inc.
Media, Analysts and Investors: Tom Tran, Director, Investor Relations, (647) 208-2166, [email protected]
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