WestJet sale to Onex OK’d by Canadian Competition Bureau

WestJet’s sale to Onex Corp. has one less hurdle to cross, after the Canadian Competition Bureau granted unconditional approval for the takeover.

“Receiving unconditional approval from the Canadian Competition Bureau is another important step on our path to closing the transaction. We continue to engage with the relevant authorities on the remaining approvals,” WestJet president and CEO Ed Sims said in an emailed release.

The acquisition is still subject to closing conditions, including regulatory approvals.

The $5-billion deal, which includes the company’s debt, was announced in May. 

WestJet has 185 planes, more than 14,000 staff and flies to 114 destinations.

The company has said it will remain headquartered in Calgary.

The deal is expected to close in the fourth quarter of this year.

Read more at CBC.ca