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Aimia suspends plans for US Coalition

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Aimia suspends plans for US Coalition
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Data-driven marketing and loyalty analytics company Aimia Inc. (TSX: AIM) reported Q2 results for 2016 on August 11, with much of the focus in the report on the company’s continuing efforts to sharpen its focus on core lines of business. A variety of cost-reduction activities were mentioned as well as disposal of “non-core assets”, which generated $38 million in the period.

Two key transactions were highlighted. Aimia sold its Enhancement Services business to Sigma Capital for a cash consideration of $15 million and the company’s Cardlytics U.K. business transferred to Cardlytics for a non-cash consideration valued at $23 million, subject to satisfaction of unspecified contractual conditions. Clarifying this news, Aimia stated that it maintains its stake in Cardlytics Inc.

Deeper into the report, there was a statement “The company has also suspended its plans for the development of a U.S. coalition in light of market factors and the company’s current focus on delivering value from its core assets.” No other comments or insights were included in the report.

For those wanting to hear more about Aimia’s current position and possibly hear details about the ending of their coalition efforts in the US, Rupert Duchesne, Group Chief Executive, Aimia is scheduled to speak at CIBC’s 15th Annual Eastern Institutional Investor Conference on Wednesday September 21, 2016 at 2:40 pm EDT. You can find an audiocast recording of the event here and we understand the talk with be available via replay for 90 days after the event.

 

 

 

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