NEW YORK, June 17, 2019 /CNW Telbec/ - Mittleman Investment Management LLC ("MIM"), a wholly-owned subsidiary of Mittleman Brothers LLC, which exercises control or direction over the largest shareholding in loyalty and travel focused issuer Aimia Inc. (TSX: AIM), today confirmed that, on May 15, 2019, Grupo Aeroméxico S.A.B. de C.V. (BMV: AEROMEX) disclosed that its subsidiary, PLM Premier, S.A.P.I. de C.V., removed its CEO, Francisco Schnaas, and appointed an interim CEO.
PLM Premier is the joint venture that manages the "Club Premier" loyalty program in Mexico. Its shareholders are Aeroméxico (51.14% ownership) and Aimia (48.86%). Aimia's stake in jointly controlled PLM Premier is its single largest asset excluding cash.
About Mittleman Investment Management LLC:
MIM is an SEC-registered investment adviser that provides discretionary portfolio management to institutional investors and high-net-worth individuals. MIM pursues superior returns through long-term investments in what it deems to be severely undervalued securities, while maintaining its focus on limiting risk.
As of the date hereof, MIM exercised control or direction over 27,482,966 common shares of Aimia Inc. ("Common Shares") on behalf of accounts over which MIM exercises control or direction through its discretionary investment authority (the "Accounts"). This represents approximately 23.4% of the issued and outstanding Common Shares disclosed by Aimia. Included in the security holdings of the Accounts are 12,500 Common Shares beneficially owned by Mittleman Brothers, LLC ("MB"), an affiliate and joint actor of MIM.
In addition, 382,897 Common Shares are beneficially owned by MIM's officers and employees.
Aimia Inc. (TSX: AIM) is a loyalty and travel consolidator focused on growing earnings through its existing investments and the targeted deployment of capital in loyalty solutions and other sub-sectors of the loyalty and travel markets.
Aimia's investments in travel loyalty include the Club Premier program in Mexico, which it jointly controls with Aeroméxico through its investment in PLM, and an investment alongside Air Asia in travel technology company BIGLIFE, the operator of BIG Loyalty.
Aimia also operates a loyalty solutions business, which is a provider of next-generation loyalty solutions for many brands in the retail, CPG, travel & hospitality, and financial services verticals.
For more information about Aimia, visit www.aimia.com.
SOURCE Mittleman Brothers
For further information: Christopher P. Mittleman, Chief Investment Officer | Managing Partner, Main: 212-217-2340 | Direct: 212-217-2341, [email protected]