WestJet Airlines plans new financing for buyout by Onex

By Sara Rosenberg

New York, May 13 – WestJet Airlines Ltd. plans on getting new financing led by Barclays, Morgan Stanley and RBC Capital Markets to help fund its acquisition by Onex Corp., according to a news release.

WestJet is being bought for C$31.00 per share. The transaction is valued at about C$5 billion, including assumed debt.

Other funds for the acquisition will come from equity.

Closing is expected in the latter part of 2019 or early 2020, subject to court and shareholder approval, and regulatory approvals.

WestJet is a Calgary, Alta.-based airline company.

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