Aimia Rejects Bid for Aeromexico Club Premier Stake

Marketing and loyalty analytics company Aimia has rejected a $180m offer from Grupo Aeromexico to buy its 48.855% stake in PLM Premier, the owner and operator of the airline's Club Premier frequent flyer program.

With around 2,300 employees across fifteen countries, Aimia offers expertise in launching and managing loyalty programs, and helps clients generate, collect and analyze customer data through various programs. Its businesses also include Aeroplan in Canada and Air Miles Middle East, while in February it sold its Nectar loyalty program and related assets to supermarket giant J Sainsbury plc for approximately $105m. Last month, Aimia received a proposal from a consortium to buy its Aeroplan loyalty program business for around $250m in cash.

With regard to the PLM Premier bid, Aimia says it believes that its stake is worth significantly more than the offer price. PLM generated Adjusted EBITDA of $77.4m in 2017 and the current contract term between PLM and Aeromexico runs until 2030.

Web site: www.aimia.com .