MONTREAL, April 30, 2019 /CNW Telbec/ - The Corporation announces being in preliminary discussions with more than one party concerning a potential transaction involving the acquisition of the Corporation.
These discussions result from expressions of interest received by the Corporation. The Corporation has formed a special committee of independent directors to evaluate the proposals with the assistance of financial and legal advisors, consider, and if deemed advisable, undertake a process for the formal review of strategic alternatives, consider any alternative proposal, and make recommendations to the Board of Directors in the best interests of the Corporation and all its stakeholders.
This situation has no impact on the clients or employees of Transat, nor on its operations, which are continuing as usual.
The discussions are at a preliminary stage. No decision has been made as to any potential transaction. There can be no assurance that any transaction will take place. The Corporation does not intend to provide further updates or comments with respect to the foregoing except as required by law.
Transat A.T. Inc. is a leading integrated international tourism company specializing in holiday travel. It offers vacation packages, hotel stays and air travel under the Transat and Air Transat brands to some 60 destinations in more than 25 countries in the Americas and Europe. Based in Montreal, the company has 5,000 employees. Transat is firmly committed to sustainable tourism development, as reflected in its multiple corporate responsibility initiatives over the past 12 years, and was awarded Travelife certification in 2018 (TSX: TRZ).
SOURCE Transat A.T. Inc.