Announced
Financials
Tags
Acquisition
airlines
Airlines
Domestic
Minority
Private
Canada
Pending
Friendly
Single Bidder
Synopsis
Canada Development Investment Corporation, an investment manager, agrees to acquire a 5.7% stake in Air Canada, an airline, for $500m. Air Canada – Canada's largest domestic and international carrier – is one of the world's 20 largest airlines. The company currently has 15k active Canadian employees. As a condition of its agreement with CEEFC, Air Canada has committed to maintaining jobs, resuming air service, and refunding customers for flights canceled during the pandemic.
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