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Aimia completes sale of investment in BIGLIFE to AirAsia
Aimia completes sale of investment in BIGLIFE to AirAsia Canada NewsWire ...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n Aimia completes sale of investment in BIGLIFE to AirAsia\n \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}\ntable p, #divContent table p\n{\nmargin: 0px;\nmargin-left: 3.8px;\nfont-size: 8pt !important;\nfont-family: Arial;\ncolor: black;\nmargin-right: 0pt;\n}\ntable th, #divContent table th\n{\nfont-weight: unset !important;\ntext-align: unset !important;\nvertical-align: unset !important;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n 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\n \n \n \n \n \n (All figures referenced in Canadian dollars, except where noted)\n \n \n \n \n \n TORONTO\n \n \n ,\n \n June 28, 2021\n \n /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\n \n March 22, 2021\n \n , in exchange for 85,864,583 new publicly traded ordinary shares of AirAsia (AAGB.MK) valued at\n \n $22.2 million\n \n as of\n \n June 28, 2021\n \n .  This transaction was subject to AirAsia's shareholders' approval, which was received on\n \n June 21\n \n , 2021.  Aimia expects to record a gain of approximately\n \n $7.7 million\n \n on this transaction.\n \n \n 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.\n \n \n About Aimia\n \n \n 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.\n \n \n 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\n \n Mexico\n \n that operates the Aeromexico Frequent Flyer program, a 48.7% e...