Aimia Inc. (AIM.TO), Monday announced an agreement agreement to sell its interest in Giovanni Bozzetto S.p.A, a specialty chemicals business, to One Equity Partners for a purchase price in a range of C$265 to C$271 million.
The transaction, which is expected to close within the next three months, is a part of the company's three-step strategy to drive shareholder value creation.
Aimia intends to use the proceeds to strengthen its balance sheet and support its plans to acquire controlling interests in operating companies.
Currently, Aimia's stock is trading at C$3.06, up 1.66 percent on the Toronto Exchange.
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