Aimia to acquire from Grupo Aeromexico an additional 20% equity participation
in Premier Loyalty & Marketing, owner and operator of Club Premier, Mexico's
leading coalition loyalty program
MONTREAL and MEXICO CITY, Oct. 29, 2012 /CNW Telbec/ - (TSX: AIM) (BMV:
Aimia Inc. ("Aimia") and Grupo Aeromexico ("Grupo Aeromexico" or
"Aeromexico"), S.A.B. de C.V. are pleased to report that they have reached an
agreement in principle in connection with the acquisition by Aimia of an
additional 20% equity participation in Premier Loyalty & Marketing, S.A.P.I.
de C.V. ("PLM"), owner and operator of Club Premier, Mexico's leading
coalition loyalty program.
PLM's fair value has been established at US$518 million and Aimia will pay
US$88 million, which includes a discount agreed to at the time of Aimia's
initial investment in PLM in September of 2010. The transaction is subject
to customary closing conditions, including the execution of definitive
agreements and Mexican regulatory approvals, and is expected to close before
the end of 2012.
After closing, Aimia's and Grupo Aeromexico's equity participations in PLM
will approximate 49% and 51%, respectively.
Aimia and Grupo Aeromexico will continue their close collaboration and support
of PLM's management team in the execution of their strategy to enable PLM to
achieve its full potential as Mexico's leading coalition loyalty program.
"PLM's exceptional performance is the result of a strong partnership at the
shareholder level and flawless execution by its very talented management
team," said Rupert Duchesne, Group Chief Executive of Aimia. "We are thrilled
with PLM's progress over the last two years. This provides clear evidence of
the strength and portability of the Aeroplan-derived business model. The
success of this partnership confirms our strategic vision in entering this
important market and choosing the right partner in Grupo Aeromexico, the
undisputed leading Mexican carrier." added Duchesne.
Andrés Conesa, Chief Executive Officer of Grupo Aeromexico added: "This
transaction reflects Aimia's confidence, not only in PLM and in Grupo
Aeromexico's future, but also in the favourable outlook for the Mexican
economy and Mexico's consumer sector, which will fuel our future growth. By
partnering with clear industry leaders, we have been able to create and unlock
significant value for our shareholders."
RBC Capital Markets acted as advisor to Aimia in the transaction, while
Citibank advised Grupo Aeromexico.
Aimia Inc. ("Aimia") isaglobal leader in loyalty
management.Aimia'sunique capabilities include proven expertise in
delivering proprietary loyalty services, launching and managing coalition
loyalty programs, creating value through loyalty analytics and driving
innovation in the emerging digital and mobile spaces.Aimiaowns and
operates Aeroplan,Canada'spremier coalition loyalty program andNectar,
theUnited Kingdom'slargest coalition loyalty program. In addition,Aimia
has majority equity positions in Air Miles Middle East and Nectar Italia as
well as a minority position in Club Premier,Mexico'sleading coalition
loyalty program and Cardlytics, a US-based private company operating in
merchant-funded transaction-driven marketing for electronic banking.
Aimiais a Canadian public company listed on theToronto Stock
Exchange(TSX: AIM) and has over 3,400 employees in more than 20 countries
around the world. For more information aboutAimia, please
Follow us on Twitter: http://twitter.com/#!/aimiainc.
About Premier Loyalty & Marketing, S.A.P.I. de C.V.
Premier Loyalty & Marketing, S.A.P.I. de C.V. owns and operates Club Premier,
the first frequent flyer program established in Latin America and Mexico's
leading coalition loyalty program. The company's objective is to reward the
preference and loyalty of Club Premier's members through the accrual and
redemption of Premier Kilometers. Members earn Premier Kilometers for flying
with Aeromexico, Aeromexico Connect, SkyTeam airlines, and other airlines; for
using American Express and Banamex co-branded credit cards; from converting
loyalty currency issued by other premium credit cards into Premier Kilometers
or by purchasing a variety of goods or services from their favourite retailers
and service providers who are participating loyalty partners. While members
primarily redeem their Premier Kilometers for flights on Aeromexico and other
affiliated airlines, they can also exchange them for a wide variety of
catalogue and experiential rewards available through www.clubpremier.com.
About Grupo Aeromexico
Grupo Aeromexico, S.A.B. de C.V. is a holding company whose subsidiaries are
engaged in commercial aviation in Mexico and the promotion of passenger
loyalty programs. Its fleet includes Boeing 777, 767 and 737 aircraft and the
latest Embraer 145, 170 and 190 models. The carrier announced a major
expansion plan in 2011 to acquire 20 new and wholly owned aircraft including
ten Embraer 190 and ten Boeing 737-8 NG airplanes. Aeromexico will take
delivery of nine 787-8 Dreamliners over the next three years. Moreover, in
2012, Aeromexico announced the most significant fleet investment program in
Mexican aviation history: the acquisition of 100 new aircraft, including 90
Boeing 737-8MAX and 10 Boeing 787-9 Dreamliner airplanes.
Grupo Aeromexico operates its main hub out of Terminal 2 in the Mexico City
International Airport, and offers over 550 daily flights to different cities
in Mexico, the United States, Canada, Central and South America, Europe and
Aeromexico is a founding member of SkyTeam, the global airline alliance
partnering 18 airlines: Aeroflot, Aerolíneas Argentinas, Air Europa, Air
France, Alitalia, China Airlines, China Eastern, China Southern, CSA Czech
Airlines, Delta Air Lines, Kenya Airways, KLM Royal Dutch Airlines, Korean
Air, Middle East Airlines, Saudia, TAROM Romanian Air Transport and Vietnam
Airlines. SkyTeam offers all partner airline passengers a large global network
with more destinations and frequencies, and improved connectivity. Passengers
can earn and redeem miles through the different airline partners' loyalty
programs and enjoy the benefits offered at SkyTeam's 520 VIP airport lounges
around the world. SkyTeam offers its 537 million annual passengers more than
14.900 daily flights to 993 destinations in 186 countries www.skyteam.com.
Caution Concerning Forward-Looking Statements
This news release contains forward-looking statements. These forward-looking
statements are identified by the use of terms and phrases such as
"anticipate", "believe", "could", "estimate", "expect", "intend", "may",
"plan", "predict", "project", "will", "would", and similar terms and phrases,
including references to assumptions. Such statements may involve but are not
limited to comments with respect to Aimia's and Grupo Aeromexico's strategies,
expectations, planned operations, future actions, anticipated financial
performance and business prospects. Forward-looking statements, by their
nature, are based on assumptions and are subject to important risks and
uncertainties. Any forecasts or forward-looking predictions or statements
cannot be relied upon due to, amongst other things, changing external events
and general uncertainties of the business and its corporate structure. Results
indicated in forward-looking statements may differ materially from actual
results for a number of reasons, including the other factors identified in
this news release and throughout Aimia's and Grupo Aeromexico's public
disclosure record on file with applicable securities regulatory authorities.
Material factors and assumptions that were applied in drawing a conclusion or
making a projection or forecast are also set out throughout this document. We
believe that the expectations represented by our forward-looking statements
are reasonable, yet there can be no assurance that such expectations will
prove to be correct. The purpose of the forward-looking statements is to
provide the reader with a description of management's expectations regarding
the matters described in this news release and may not be appropriate for
other purposes. The forward-looking statements contained herein represent the
parties' expectations as of October 29, 2012, and are subject to change after
such date. However, the parties disclaim any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required under applicable
Aimia Media JoAnne Hayes 416-352-3706 firstname.lastname@example.org Analysts &
Investors Trish Moran 416-352-3728 email@example.com Grupo Aeromexico
Media Carlos Torres +52 (55) 9132 4128 firstname.lastname@example.org Analysts &
Investors Carlos Doormann +52 (55) 9132 4257
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