Experience

Air Canada, TD, Visa and CIBC reach agreement in principle to acquire Aimia’s Aeroplan Loyalty Business in a transaction valued at US$2.35 billion

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Overview

Client

Air Canada

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.

Team

  • Neil Kravitz, Partner | Co-lead, Corporate, Co-lead, Cross Border and International Practice, Montréal, QC, +1 514 397 7551, [email protected]
  • Constantinos Ragas, Partner | National Co-Leader, Emerging Technology & Venture Capital, Montréal, QC, +1 514 397 5244, [email protected]
  • Claude E. Jodoin, M Fisc, Partner | Tax Law, Montréal, QC, +1 514 397 7489, [email protected]
  • Huy Do, Partner | CO-LEADER, COMPETITION, MARKETING & FOREIGN INVESTMENT | LEADER, SOUTHEAST ASIA GROUP, Toronto, ON, +1 416 868 3505, [email protected]
  • John Pecman, Senior Business Advisor | Competition, Marketing & Foreign Investment, Ottawa, ON, +1 613 696 6974, [email protected]
  • Luc Béliveau, Partner | Insolvency & Restructuring, Montréal, QC | London, +1 514 397 4336, [email protected]
  • Chris Margison, Counsel | Competition, Marketing & Foreign Investment, Toronto, ON, +1 416 943 8975, [email protected]
Neil Kravitz Associé/Partner Montréal Neil Kravitz Partner | Co-lead, Corporate, Co-lead, Cross Border and International Practice Montréal, QC +1 514 397 7551
Constantinos Ragas Montréal Lawyer/Avocat Constantinos Ragas Partner | National Co-Leader, Emerging Technology & Venture Capital Montréal, QC +1 514 397 5244
Claude E. Jodoin, Partner | Tax Law Claude E. Jodoin, M Fisc Partner | Tax Law Montréal, QC +1 514 397 7489
Huy Do Toronto Lawyer Huy Do Partner | CO-LEADER, COMPETITION, MARKETING & FOREIGN INVESTMENT | LEADER, SOUTHEAST ASIA GROUP Toronto, ON +1 416 868 3505
John Pecman Ottawa Senior Business Advisor John Pecman Senior Business Advisor | Competition, Marketing & Foreign Investment Ottawa, ON +1 613 696 6974
Luc Béliveau Associé/Partner Montréal Luc Béliveau Partner | Insolvency & Restructuring Montréal, QC London +1 514 397 4336
+1 514 232 8493
Chris Margison, Counsel | Competition, Marketing & Foreign Investment Chris Margison Counsel | Competition, Marketing & Foreign Investment Toronto, ON +1 416 943 8975