Of further interest the LI family owns Husky Petroleum here in Canada and they have built it into a very profitable and major oil/gas company,specializing in heavy oil and Newfoundland off shore plays both very expensive and risky.They have done very well with both and they are known to make good sound business decisions inside Husky.

The amount they are paying for 31% of the equity makes the full value of the company around $2 Billion dollars. Considering they valued Aeroplan at around $1Billion and tech services around $350 million, this seems a fair price to pay for the company.
The creditors, getting 56% of the equity will see a value on day one of $1.1 Billion or about 12 cents on the dollar for their original debt.
They haven't said who is gettingthe other 13%~I hope its not the unions but I would think it's probably the public float they will sell to the marketplace.

[This message has been edited by parnel (edited 11-09-2003).]