10:41 AM EST - Aeroplan Income Fund : has agreed to pay the equivalent of C$755 million to acquire Loyalty Management Group, which operates the Nectar loyalty program in Britain. The income trust will pay 368 million pounds to LMG chairman Sir Keith Mills, private equity firm Warburg Pincus and the LMG management team, which is to remain in place an operate the business separately from Aeroplan. Aeroplan said it will finance the transaction with cash on hand and an existing undrawn C$100-million acquisition facility, plus a C$300-million bridge loan which it intends to convert to publicly held debt when credit markets improve. Aeroplan Income Fund
shares T.AER.UN are trading down 50 cents at $22.50.
