Business
Aimia Announces Receipt of $67 Million in Restricted Cash
Aimia Announces Receipt of $67 Million in Restricted Cash Canada NewsWire TORONT...
About this update from Aimia Inc.
[{"type":"text","content":"\n\n\n\nAimia Announces Receipt of $67 Million in Restricted Cash\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 23, 2020\n\n\n\nTORONTO, July 23, 2020 /CNW Telbec/ - Aimia Inc. (TSX: AIM)(\"Aimia\" or the \"Company\"), an investment holding company, announces that it has received the remaining funds totaling $67 million held in a restricted account established in relation to certain indemnification obligations under the sale of the Aeroplan program, after fulfilling all of its related legal conditions. \nWith a debt free balance sheet and $190 million in cash and liquid investments, the company will continue to execute its strategy of acquiring long-term investments in public and private companies, on a global basis, through controlling or minority stakes, targeting companies with a well-established track record of substantial free cash flow generation. \nAbout Aimia\nAimia Inc. (TSX: AIM) is an investment holding company with a focus on long-term investments in public and private companies, on a global basis, through controlling or minority stakes.\nThe company operates an investment advisory business through its wholly-owned subsidiary Mittleman Brothers Inc., 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 leading coalition program in Mexico, a 49% equity stake in Kognitiv, a transformative leader in loyalty, a 20% equity stake in travel technology company BIGLIFE, the operator of BIG Loyalty, one of the largest loyalty program across Asia, as well as a 10.9% stake in Clear Media Limited, one of the largest outdoor advertising firms in China. \nFor more information about Aimia, visit corp.aimia.com.\nForward-Looking Statements\nThis press release contains statements that constitute \"forward-looking information\" within the meaning of Canadian securities laws (\"forward-looking statements\"), which are based upon our current expectations, estimated, projections, assumptions and beliefs. All information that is n...