EDMONTON – Onex acquired WestJet and Premier Jason Kenney said today this shows renewed confidence in the province’s economy.
Onex announced Monday that it signed a friendly deal to buy WestJet for $5 billion, including assumed debt. Onex will pay $31 per share for WestJet.
“This $5-billion investment in WestJet is an important sign of confidence in the future of Alberta’s economy,” said Premier Kenney. “Our government’s Job Creation Tax Cut and Red Tape Reduction Strategy sends a message to investors like Onex that Alberta is open for business.”
Premier Kenney said WestJet is an Alberta success story and example of the province’s entrepreneurial culture.
“I am hopeful that today’s proposed acquisition by Onex Corporation will lead to a stronger future for WestJet as a growing, Alberta-based carrier,” he said. “I appreciate Onex’s commitment to retain WestJet’s headquarters in Calgary, and maintain WestJet’s 14,000-person workforce.
“By moving to private ownership, it is our hope that WestJet will have greater latitude to make long-term strategic investments, growing its fleet and global network of destinations, including direct overseas flights from Alberta,” he added. “This in turn will support our government’s tourism and economic development strategies, connecting Alberta to a growing number of markets around the world.”
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