Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Aimia Inc T.AIM

Alternate Symbol(s):  T.AIM.PR.A | AIMFF | T.AIM.PR.C | T.AIM.PR.D

Aimia Inc. is a diversified company. The Company operates through three segments: Bozzetto, Cortland International and Holdings. The Bozzetto segment is a provider of specialty sustainable chemicals, offering sustainable textile, water and dispersion chemical solutions with applications in several end-markets including the textile, home and personal care, plasterboard and agrochemical markets. The Cortland International segment consists of Tufropes and Cortland Industrial LLC (Cortland). Tufropes is a manufacturer of synthetic fiber ropes and netting solutions for maritime and other different industrial customers. Cortland is a designer, manufacturer, and supplier of technology advanced synthetic ropes, slings, and tethers to the aerospace & defense, marine, renewables, and other diversified industrial end markets. The Holdings segment includes investments in Clear Media Limited, Kognitiv, as well as minority investments in various public company securities and limited partnerships.


TSX:AIM - Post by User

Bullboard Posts
Comment by KingAceon Jul 29, 2018 1:51am
301 Views
Post# 28382214

RE:Aimia’s largest holder values Aeroplan at $1B

RE:Aimia’s largest holder values Aeroplan at $1B
Spuds21 wrote:
Air Canada and its partners might face an uphill battle convincing Aimia Inc. to sell Aeroplan because the companys largest shareholder believes the loyalty program is worth four times what theyre offering. The countrys largest carrier said Wednesday it had partnered with the Canadian arm of Visa Inc. and two Canadian banks to put together a proposal to acquire Aeroplan from Aimia for about $250 million in cash, or roughly $1.64 per share. Thats a far cry from what Mittleman Brothers, Aimias largest shareholder, believes its worth. In a letter to investors obtained by Bloomberg, Mittleman said it believed Aeroplan was worth about $1 billion, or $6.57 a share. The firm owns about an 18 per cent stake in Montreal-based Aimia, according to data compiled by Bloomberg. The Melville, New York-based investment firm also said in the July 24 letter it believes Aeroplan has strategic value above that $1 billion mark for its 5 million members and its key commercial contracts with Toronto Dominion Bank, Canadian Imperial Bank of Commerce, American Express and Air Canada which it said have hundreds of millions of annual profits at stake in preserving it. TD and CIBC are Air Canadas other partners in the bid for Aeroplan. Recent Progress Mittleman Brothers said it believes Aimia is worth about $10 a share on a sum of its parts valuation. Thats well above the $3.44 a share it closed at on Thursday. We are pleased with the recent progress made at the board and management level and are optimistic that further evidence of success will be forthcoming, Mittleman Brothers said in the letter. Aimia remains one of the most exciting investment opportunities in the public markets today. On Thursday, Aimia said it also rejected an $180 million bid from Grupo Aeromexico for a minority stake in the PLM Premier rewards plan operator, saying the offer is too low. In its letter, Mittleman Brothers said it estimated the value of that 48.9 per cent stake at about $489 million, or $3.21 a share. The rest of its investments, including Aimias stake in Cardlytics, Think BIG Digital, Air Miles Middle East, and Fractal Analytics made up the remainder of the $1.54 billion net asset value Mittleman Brothers ascribes to its investment. Aimia has been facing investors calls for change, including new management and asset sales. Last year the companys stock plunged 58 per cent after Air Canada announced in May that it would break off its relationship with Aimia to run its own rewards program to 2020.

Yeah no point in even trying to sell Aeroplan if air Canada doesn’t wanna negotiate. Launching an airline against them would be the superior move. Maybe if Canada Jetlines can get some planes they’d be a good candidate for a partnership seeing as they are already liscensed and just need a bit of financing
Bullboard Posts