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Aimia sells Air Miles trademarks

Montreal-based loyalty program company Aimia has sold its Air Miles trademarks for Canada to Diversified Royalty of Toronto. The deal, worth approximately $53 million, includes the Air Miles trademarks, license and royalty agreements for Canada. The specified trademarks are used under an exclusive license by LoyaltyOne.

"This transaction is part of our plan to simplify our business," said David Johnston, group chief executive at Aimia. "We continue to evaluate and consider further disposals of non-core investments and assets to strengthen our balance sheet."

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