GuestLogix Closes Sale of Its OpenJaw Business to TravelSky TORONTO, ONTARIO--(Marketwired - May 6, 2016) - GuestLogix Inc. ("GuestLogix" or the "Company") today announced that it has closed the previously announced sale of all of the shares that its wholly-owned subsidiary, GuestLogix Ireland Limited, owned in OpenJaw Technologies Inc. to an affiliate of TravelSky Technology Limited ("TravelSky") (the "OpenJaw Transaction"), for net proceeds of approximately US$38.5 million after closing adjustments but before transactions fees and expenses.
The OpenJaw Transaction resulted from the previously announced court-approved sale and investment solicitation process conducted under the Companies' Creditors Arrangement Act. The OpenJaw Transaction does not include any of the assets of the Company's onboard business.
Canaccord Genuity Corp. acted as financial advisors to GuestLogix and Mooreland Partners LLC acted as financial advisors to TravelSky. Legal advice was provided to GuestLogix by Wildeboer Dellelce LLP and Thornton Grout Finnigan LLP and to TravelSky by Baker & McKenzie LLP.