Blackstone and three major Canadian institutional investors have agreed to acquire a 25% interest in Air Canada’s Aeroplan loyalty programme in a transaction that values the business at CAD10bn ($7.2bn), according to a report by Bloomberg.
The consortium is paying C$2.5bn ($1.8bn) for the minority stake, with the investment group also including Caisse de dépôt et placement du Québec, PSP Investments and British Columbia Investment Management Corp.
Air Canada will retain control of Aeroplan follo...
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