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MONTREAL, Aug. 26, 2019 /CNW Telbec/ - Aimia Inc. (TSX: AIM) today announced the sale of approximately half of its investment in Cardlytics (NASDAQ: CDLX).
Aimia sold 1.5 million shares of Cardlytics Inc. (NASDAQ: CDLX) by way of block trade for net proceeds of approximately US$44.9 million (CA$59.8 million). After the transaction, Aimia retains 1.478 million shares in Cardlytics. The company will continue to evaluate its remaining investment in Cardlytics against its stated strategy as a consolidator in the loyalty and travel space, as well as its capital allocation priorities.
Aimia Inc. (TSX: AIM) is a loyalty and travel consolidator focused on growing earnings through its existing investments and the targeted deployment of capital in loyalty solutions and other sub-sectors of the rapidly-expanding loyalty and travel markets.
Its investments in travel loyalty include the Club Premier program in Mexico, which it jointly controls with Aeromexico through its investment in PLM, and an investment alongside AirAsia in travel technology company BIGLIFE, the operator of BIG Loyalty.
Aimia also operates a loyalty solutions business, which is a well-recognized, global full-service provider of next-generation loyalty solutions for many of the world's leading brands in the retail, CPG, travel & hospitality, financial services and entertainment verticals.
For more information about Aimia, visit corp.aimia.com.
SOURCE Aimia Inc.