Air Canada proposes to acquire Transat AT, create global travel services company

    Air Canada entered (16-May-2019) into an exclusive agreement with Transat AT to potentially combine the airline and company. Air Canada proposes to acquire all issued and outstanding shares of Transat at CAD13 (USD9.6) per share. The transaction value is approximately CAD520 million (USD386.1 million), and remains subject to finalisation of definitive agreements, confirmatory due diligence, regulatory and shareholder approvals and other closing conditions. The proposed transaction is expected to create a global travel services company in leisure, tourism and travel distribution, which will be based in Montreal and operate across Canada and internationally. The airline has necessary funding to complete this transaction. [more – original PR – Air Canada] [more – original PR – Transat AT – English/French]