JANUARY 12TH, 2016
Transat A.T. Inc. initiates search for acquirers for its tour operating operations in France, Greece
MONTREAL, Jan. 12, 2016 /CNW Telbec/ – Transat A.T. Inc. (“Transat” or the “Corporation”) (TSX: TRZ) has initiated a process by which the Corporation is seeking indications of interest from third-parties that could lead to the sale of certain of the Corporation’s assets outside Canada, namely its tour operating business units in France and Greece. At this time, no negotiations have yet been entered into; no assurance can be given that such negotiations will be entered into or that, if and when entered into, that any transaction will be completed.
Should such a transaction take place, it will have no impact on Transat Tours Canada’s transatlantic program or on Air Transat operations and growth, including their presence in France. Transat maintains its growth objectives as a leisure carrier between Europe and Canada.
The potential transaction is aligned with the company’s 2015-2017 strategic plan, which emphasizes profitable growth in the Americas, through the development of its tour operating, distribution and hotel businesses.
The Company does not intend to provide any further public updates regarding this matter prior to the completion of the process or unless it otherwise determines that disclosure is appropriate.
Transat is an integrated international tour operator with more than 60 destination countries and that distributes products in over 50 countries. A holiday travel specialist, Transat operates mainly in Canada and Europe, as well as in the Caribbean, Mexico and the Mediterranean Basin. Montreal-based Transat is also active in air transportation, destination services, accommodation and distribution.