*The Canadian government has sold its equity holdings in the country's biggest airline, Air Canada, which were acquired as part of emergency Covid-19 financing, Toronto-based The Globe and Mail reported, citing a source.
*In April of 2021, Canada provided Air Canada with financing of up to 5.4 billion Canadian dollars, or the equivalent of $3.8 billion, to help with a drop in travel emanating from the Covid-19 pandemic. In exchange, the Canadian government acquired C$500 million in newly-issued Class B voting shares.
*The Globe reported Canada's finance ministry sold the shares at C$25 apiece over the past few days, or above the estimated acquisition price of C$23.18 apiece.
*A representative for Canada's Department of Finance did not immediately respond to a request for comment. Nor did a spokesman for Air Canada.
Full article at https://www.theglobeandmail.com/business/article-federal-government-sells-its-air-canada-stake/
Write to paul.vieira@wsj.com
(END) Dow Jones Newswires
December 12, 2024 13:07 ET (18:07 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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