RE:RE:RE:RE:RE:RE:RE:RE:Air MilesNice of them to spin out about $750 million in debt along with Air Miles eh? Market cap now 22 million. Loyalty Ventures never had a chance even if Air Miles hadn't lost Sobey's imo. How are transactions like that even legal? I'd prefer they just go bankrupt now rather than draw it out. DIV doesn't need any overhanging bad news that gives people any more excuse to dump.
Tommy123 wrote: Loyalty One was spun off recently from its parent company to protect the parent company from bankruptcy as it likely knew that Air Miles would lose key sponsor and collapse. And that is exactly how it played out. And it's working, since Loyalty One is down 93% in the past six months.
Hopefully DIV has done the same by setting up separate corporations for each royalty holding, meaning that when Air Miles goes bankrupt and they lose it, then they can default on that debt, without jeopardizing the entire company.
Can anyone confirm that DIV has a different subsidiary for Air Miles and its debt?