Under the terms of the agreement, Onex Corporation ("Onex")(TSX: ONEX) and its affiliated funds will acquire all outstanding shares of WestJet for $31.00 per share, after which WestJet will operate as a privately-held company. His Onex Corporation announced Wednesday that it had completed its $5 billion bid to buy Westjet. All amounts in Canadian dollars unless otherwise stated – The Onex Group Completes Acquisition of WestJet – CALGARY, Alberta, TORONTO, Ontario, December 11, 2019 – Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the “Onex Group”) and WestJet Airlines Ltd. This capital is committed to or invested in Onex’ various platforms. READ MORE: WestJet to be sold in friendly deal to Onex Corp. for $5 billion Asper is the son of Izzy Asper, who founded CanWest Capital with Schwartz in the 1970s. The purchase price was C$5 billion. WestJet Airlines remains firmly committed to Calgary and Alberta, CEO Ed Sims vowed, hours after news broke of the company’s pending sale to Toronto-based private equity firm Onex Corp… Onex Corp has closed its acquisition of Calgary-based WestJet Airlines. A Westjet Boeing 737 departs Vancouver International Airport (photo: Brett Ballah) A little more than 20 years after he tried to buy and merge Air Canada and Canadian Airlines International, Toronto financier Gerry Schwartz finally owns an airline. FOR IMMEDIATE RELEASE . Our Platform Onex invests and manages capital on behalf of shareholders, institutional investors and high net worth clients from around the world. 1 . Onex offered C$31 a … As a result of the transaction, WestJet … Private equity firm Onex Corp. is making its long-coveted leap into aviation by signing a friendly deal to buy WestJet Airlines Ltd. in an all-cash transaction of $3.5 billion. Onex Corp. agreed to pay cash for Canada’s second-biggest carrier, and plans to take the company private in one of the buyout firm’s biggest deals. Onex Corporation and WestJet Airlines Ltd. announced on December 11, 2019 that ‎they have completed their previously announced purchase agreement valued at approximately $5 billion ‎including assumed debt. Private equity firm Onex Corp. posted a US$1.1-billion loss in the first quarter as it wrote down the value of WestJet Airlines and other holdings due to the impact of the COVID-19 outbreak. WestJet says it has agreed to be acquired by Onex Corp. and will become a private company in a transaction valued at $5 billion including debt.
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