Aimia investor may push for board, management changes or sale of company

Mittleman Brothers said it had increased its ownership of Aimia to 10.6 per cent at the end of January, and opened the possibility of pushing for changes at the company.Postmedia News files

Mittleman Brothers has taken a stake in Aimia Inc. and says it may push for changes to the Canadian loyalty-card provider’s management or board as well as seek a sale of all or part of the company.

The investment firm first disclosed in September a stake in Aimia, which runs Air Canada’s loyalty program Aeroplan. Last week, Mittleman said it had increased its ownership of Aimia to 10.6 per cent at the end of January, and opened the possibility of pushing for changes at the company, according to an updated regulatory filing.  

In addition to governance changes, the firm said it may also push for changes to Aimia’s capitalization or dividend policy, the filing shows.

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