(All figures referenced in
- Binding letter of intent subject to negotiation of certain commercial and financial terms; anticipated to close in 60 days
- Proposed amendments to commercial and shareholders agreements ensure strong alignment of interest between the joint venture partners
- Proposed 20-year extension of current CPSA term
- Proposed financial support for Aeromexico by PLM of
US$100 million using intercompany loans and pre-purchases of award tickets, funded by PLM's cash on hand - Agreement in principle to grant Aeromexico a 7-year option to purchase
Aimia's stake in PLM at a 7.5x Adjusted EBITDA multiple, with minimum price ofUS$400 million forAimia's stake, subject to final agreement on certain terms and conditions - Parties agree to pursue initiatives to increase distributions to shareholders
- PLM approves a
US$10 million distribution to shareholders in Q2 2020
As part of the proposed transactions, PLM will, from cash on its balance sheet, provide financial support to Aeromexico of
Aeromexico's CEO,
About Aimia
The company operates a loyalty solutions business, which is a well-recognized, global full-service provider of next-generation loyalty solutions for many of the world's leading brands in the retail, CPG, travel & hospitality, financial services and entertainment verticals.
For more information about
Forward-Looking Statements
This 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 not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements are typically identified by the use of terms such as "outlook", "guidance", "target", "forecast", "assumption" and other similar expressions or future or conditional terms such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and "should". Forward-looking statements in this press release include, but are not limited to, statements with respect to our current and future plans, expectations and intentions, including with respect to the negotiation of the proposed amendments of the Shareholders Agreement and the CPSA.
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 and 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.
View original content:http://www.prnewswire.com/news-releases/aimia-expands-relationship-with-aeromexico-301057607.html
SOURCE
© Canada Newswire, source