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UPDATE 1-Ace Aviation jettisons stake in Jazz Air to 9.5 pct
(Adds details)
TORONTO Jan 16 (Reuters) - ACE Aviation Holdings Inc (ACEa.TO) said on Wednesday it would sell 13 million units of its Jazz Air Income Fund JAZ_u.TO to two fund companies, more than halving its current stake.
The airline holding company will sell the units of the regional airline at C$7.45 apiece, for total proceeds of about C$96.9 million ($94.7 million).
After the sale, ACE will hold about 9.5 percent of the outstanding units of Jazz, down from 20.1 percent now.
The sale to West Face Capital Inc and Sunrise Partners Limited Partnership is expected close by Jan 24.
Last week, bought back about half its stock for C$30 a share, advancing the windup of Air Canada's (ACa.TO) parent company.
($1=$1.03 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)
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