ACE Aviation shareholders to receive up to $300million

Victoria
By Victoria March 14, 2012 08:27

ACE Aviation shareholders to receive up to $300million

ACE Aviation Holdings, which owns Air Canada and several related businesses, plans to distribute up to $300million to its shareholders in the coming months as the company is wound up. ACE Aviation was formed in 2004 to be the airline’s parent company after Air Canada sought court protection in April 2003. The company has already sold most of its assets including Chorus Aviation, which operates the Jazz air service and Aveos, which overhauls aircraft – and distributed the bulk of the money to shareholders.
Ace said Tuesday that it plans an initial distribution of $250-million to $300-million in the weeks following the April 25 shareholder vote, according to a proxy circular sent to investors.

Victoria
By Victoria March 14, 2012 08:27
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