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Air Canada to buy tour operator Transat in C$520 mln deal

Published 2019-05-16, 08:16 a/m
Updated 2019-05-16, 08:20 a/m
© Reuters.  Air Canada to buy tour operator Transat in C$520 mln deal

May 16 (Reuters) - Air Canada AC.TO said on Thursday it will buy Canadian tour operator Transat A.T. Inc TRZ.TO in an all-cash deal valued at C$520 million ($387.51 million) to create a Montreal-based global travel services company.

As part of the deal, Transat shareholders will receive $13 per share. deal comes days after WestJet Airlines WJA.TO received a C$3.5 billion buyout offer from billionaire Gerry Schwartz's private equity firm Onex Corp ONEX.TO . = 1.3419 Canadian dollars)

Latest comments

this will be blocked by Canada government
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