WestJet Takeover Gets Transport Minister’s Approval
Canada's Minister of Transport has approved Onex’s acquisition of WestJet Airlines.
The takeover “does not raise public interest issues as related to national transportation,” the department said.
Onex agreed in May to acquire the Canadian airline for CAD$5 billion (USD$3.79 billion) including debt. Approval from the Minister of Transport was one of the conditions for closing the deal.
WestJet chief executive Ed Sims welcomed the Minister’s decision and said the airline “will continue to cooperate with the necessary authorities on the remaining regulatory approvals.”
The acquisition is subject to other conditions including regulatory, WestJet security-holder, and court approvals.