Mithaq commences takeover bid to acquire all the outstanding common shares of Aimia
Torys is acting as counsel to Mithaq with a team that led by John Emanoilidis and that includes David Forrester, Pat Chapman, Max Ledger, Maddy Beaudry and Mile Kurta (corporate/M&A), Dany Assaf, Ian Li and Chris Caparelli (regulatory), Jerald Wortsman, Ian Farndon, Peter Keenan and Michelle Lu (tax) and Andrew Gray, Sarah Whitmore and Hanna Singer (litigation).
On October 3, 2023, Mithaq Canada Inc. ("Mithaq Canada"), a wholly-owned subsidiary of Mithaq Capital SPC ("Mithaq"), the largest shareholder of Aimia Inc. ("Aimia"), announced the commencement of an all-cash takeover bid to acquire all of the issued and outstanding common shares of Aimia, not already owned by Mithaq Canada or its affiliates, at a price of C$3.66 per common share.
The cash consideration under the proposed offer represents premiums of approximately:
- 20% based on the closing price of C$3.05 per common share on the TSX on October 2, 2023 (the last trading day prior to today's announcement of the proposed offer); and
- 23% to the volume weighted average trading price of C$2.98 per common share on the TSX over the 20 trading days ended October 2, 2023.
Mithaq currently owns or exercises control or direction over approximately 30.96% of the issued and outstanding common shares of Aimia.
Further information can be found on Canada Newswire’s website.
Mithaq is the largest shareholder of Aimia, holding 26,059,000 common shares representing approximately 30.96% of the issued and outstanding common shares. Mithaq is a segregated portfolio company and affiliate of Mithaq Holding Company, a family office based in Saudi Arabia with investments in public equities, real estate, private equity and income-producing assets in local and international markets.
Aimia is a public holding company with a focus on making long-term investments in public and private companies, through controlling or minority stakes.