Kirkland Advises Blackstone on CDN$2.5 Billion Minority Equity Investment in Aeroplan Alongside La Caisse

Kirkland & Ellis advised Blackstone on a transaction whereby funds managed by Blackstone and La Caisse, together with other leading Canadian institutions, are making a CDN$2.5 billion minority equity investment directly in Aeroplan Inc., the operator of Canada’s leading travel loyalty program, with more than 10 million active members worldwide. The transaction terms provide that the investor group is acquiring a 25% non-controlling equity interest in Aeroplan, valuing the program at CDN$10 billion. Air Canada, Canada's largest airline, will retain a 75% ownership interest and continue to control Aeroplan and its operations, strategic direction and day-to-day management.

Read the transaction press release

The Kirkland team included corporate lawyers John Pitts, Gabrielle Sumich and Reese Gwin; and debt finance lawyers Lucas Spivey, Jordan Roberts, Kelsey Baumberger and Charles Martin.