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Royal Bank increases holdings in ACE Aviation
Posted on June 19, 2008
For a second time this month, Royal Bank of Canada has bolstered its holdings in ACE Aviation Holdings Inc., the parent company of Air Canada.RBC said it had acquired 100,000 Class B voting shares yesterday, valued at more than $2.2-million based on its closing price of $22.08 yesterday.The bank now holds 7.37% of the company's Class B shares, after increasing its stake to more than 5% earlier this month. The acquisition was not made for the purpose of, and will not have the effect of, influencing or changing the control of ACE Aviation, RBC said in a statement.Earlier this month, Deutsch...
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