Aimia Rejects US$180 Million Aeromexico Offer to Acquire PLM Stake
MONTREAL, July 26, 2018 /CNW Telbec/ – Aimia Inc. (TSX: AIM), a data-driven marketing and loyalty analytics company, today confirms that it has received a non-binding offer (the "Offer") from Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") to acquire for US$180 million Aimia’s 48.855% stake in PLM Premier, S.A.P.I. de C.V. ("PLM"), the owner and operator of Aeromexico’s Club Premier frequent flyer program. Aimia also announces that it has formally notified Aeromexico that the Offer has been rejected.
The Company has promptly rejected the Offer as it believes that its stake in PLM is worth significantly more than the Offer price, which reflected no improvement whatsoever to the terms previously proposed by Aeromexico to Aimia in prior discussions between the parties. By way of reminder, PLM generated Adjusted EBITDA of US$77.4 million in 20171 and the current contract term between PLM and Aeromexico runs to 2030.
Notwithstanding the specific terms of any particular proposed transactions, Aimia believes that recent events have served to highlight the strength, quality and desirability of both Aimia’s core business as well as its other assets and investments. Aimia remains focused on executing on its business plan and serving the interests of its shareholders, members, customers and other stakeholders.
About Aimia
Aimia Inc.’s (TSX: AIM) data-driven marketing and loyalty analytics provides clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both our clients and consumers.
Aimia partners with groups of companies and individual companies to help generate, collect and analyze customer data and build actionable insights.
Our businesses include Aeroplan in Canada and Air Miles Middle East. The provision of loyalty strategy, program development, implementation and management services for other clients are underpinned by leading products and technology platforms such as the Aimia Loyalty Platform – Enterprise and Aimia Loyalty Platform – SaaS, and through our analytics and insights business, including Intelligent Shopper Solutions. In other markets, we own stakes in loyalty programs, such as Club Premier in Mexico and Think Big, a partnership with Air Asia and Tune Group. Our clients are diverse, and we have industry-leading expertise in the fast-moving consumer goods, retail, financial services, and travel and airline industries globally to deliver against their unique needs.
For more information about Aimia, visit www.aimia.com.
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Adjusted EBITDA is a non-GAAP financial measure. See slides 4 and 30 of Aimia’s investor presentation entitled "Q4 2017 Highlights" dated February 14, 2018 available at: https://www.aimia.com/wp-content/uploads/2018/02/Presentation_AIMIA_Q4-2017-Highlights_vFinal2.pdf |
SOURCE AIMIA
Contact: Karen Keyes, (647) 459 3506, karen.keyes@aimia.com