Air Canada announced (24-Dec-2018) the acquisition of Aimia‘s Aeroplan loyalty business cleared regulatory requirements, following receipt of the required confirmation under the Canada Transportation Act and a “no action letter” issued by the Canadian Competition Bureau. As previously reported by CAPA, this also follows the conclusion of a definitive share purchase agreement with Aimia. The aggregate purchase price for the acquisition of Aimia Canada consists of CAD450 million (USD339 million) in cash subject to post-closing adjustments and includes the assumption of approximately CAD1.9 billion (USD1.4 billion) of Aeroplan Miles liability. Air Canada will receive payments from TD and CIBC totalling CAD822 million (USD620 million), as well as CAD400 million (USD302 million) as prepayments at closing, for future monthly payments of Aeroplan miles. Visa will also make a payment to Air Canada. The airline remains in negotiations with American Express, which also issues Aeroplan co-branded products, to secure its continued participation in the Aeroplan programme after 2020. The closing of the acquisition, expected to occur in Jan-2019, remains subject to the satisfaction of customary conditions as well as Aimia shareholder approval, which will be sought by Aimia at its special meeting of shareholders on 08-Jan-2019.