Manufacturing Industry
All conditions for Air Canada's Canadian Airlines merger met or waived
Airline Industry Information, Dec 29, 1999
AIRLINE INDUSTRY INFORMATION-(C)1997-2000 M2 COMMUNICATIONS LTD
On 24 December Air Canada released a statement confirming that all the conditions for its merger with Canadian Airlines had been met or waived to allow its newly formed company, Alberta Ltd, to acquire shares in Canadian Airline on 5 January 2000.
Also on 24 December, Air Canada announced that it had received more than 50% of the outstanding common shares and the outstanding non-voting shares of Canadian Airlines Corporation and that it had finalised its agreement with AMR Corp.
Air Canada indicated that it will commence a restructuring of Canadian Airlines` debts and the integration process after the acquisition is complete.
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