Date Closed

December 20, 2007

Lead Office

Toronto

Value

755.00 Million CAD

On December 20, 2007, loyalty-card operator Aeroplan Income Fund completed the acquisition of UK-based Loyalty Management Group, which operates the Nectar loyalty program in Britain, for approximately $755 million. This was Aeroplan's first major international acquisition.

Aeroplan is a coalition loyalty program based in Canada. The Aeroplan program was created in July 1984 by Air Canada as an incentive program for its frequent flyer customers. There are approximately 4.6 million active members in the program.

McCarthy Tétrault LLP advised Loyalty Management Group with a team led by Garth Girvan and Robert Brant.