Shareholders of Montreal-based Aimia Inc. approved the sale of its subsidiary Aimia Canada Inc. to Air Canada.
Aimia Canada is the owner and operator of Aimia's Aeroplan loyalty program. Air Canada had earlier signed an agreement with Aimia Inc. to acquire its Canadian subsidiary in a C$450 million all-cash deal.
Aimia expects the deal to close in the coming days.
The shareholders also approved the reduction of the stated capital of Aimia's common shares to an aggregate amount of at least C$1 million.