Air Canada cites interest by equity investors
0 Comments | AFP, February, 2008
MONTREAL (AFP) — Private equity players and pension funds have approached Air Canada's parent ACE Aviation Holdings touting a possible buy of Canada's top airline, ACE chief executive Robert Milton said Friday.
However, he refused to identify the potential bidders for ACE's 75 percent stake in Air Canada, which ACE is looking to divest.
"We've now been approached by private equity, by pension funds," CEO Robert Milton said during a conference call on ACE's year-end results.
Milton noted a wave of consolidation in the US airline industry, adding, "I don't think it's inconceivable that Air Canada could be part of it."
Following his comments, Air Canada stocks gained three percent in Toronto on Friday, after climbing 18 percent the previous day on solid...
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