Blackstone Leads $1.8 Billion Air Canada Loyalty Plan Stake Deal

Blackstone Inc. and a group of Canadian pension funds acquired a 25 percent stake in Air Canada's Aeroplan loyalty program for C$2.5 billion ($1.8 billion), Air Canada announced Tuesday. The transaction valued Aeroplan at C$10 billion ($7.2 billion). Air Canada retained a majority stake in the program following the sale.

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