Onex Corp. Has Officially Taken Over WestJet for $5 Billion

The sale of WestJet is not complete, according to a news report released by 660 News, a radio station in Calgary, Alberta.

As the radio station’s website reports, Onex Corp. announced Wednesday it has officially taken over the Calgary-based company for $5 billion including assumed debt.

The closing comes following the final regulatory approval by the Canadian Transportation Agency, the report goes on to say.

Last May, Onex signed a friendly deal to buy WestJet, paying $31 per share and will keep the airline as a privately held company.