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New Deal


Announced

Completed

Onex completed the acquisition of WestJet for $3.6bn.

Financials

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Transaction Value£2,765m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales1x
EV/EBITDA8.4x
Share Price Premium-
One Off Charge-

Tags

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Canada

Acquisition

commercial aviation

Airlines

Friendly

airlines

Private Equity

Private

Single Bidder

Completed

Majority

Synopsis

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Onex Corporation, an investor of capital in its private equity and credit platforms on behalf of investors from around the world, completed the acquisition of WestJet Airlines, a commercial airline based in Canada for a sum of $3.6bn. The investment to buy WestJet will be led by Onex Partners, Onex’s private equity platform focused on larger investments. Completion of the transaction is subject to a number of conditions, including court, regulatory and shareholder approvals. “WestJet is one of Canada’s strongest brands and we have tremendous respect for the business that Clive Beddoe and all WestJetters have built over the years.”, Tawfiq Popatia, Onex Managing Director. Onex's $3.6bn acquisition for Canada based WetJet Airlines receives approval from Canada's Transport Minister, clearing the first regulatory approval.

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