Transat A.T. in preliminary discussions for possible sale

The announcement came as Air Transat’s parent company was preparing to hold its annual shareholders’ meeting in Montreal.

An Air Transat sign is seen Tuesday, May 31, 2016 in Montreal. Paul Chiasson / THE CANADIAN PRESS

Quebec travel company Transat A.T. Inc. announced Tuesday it has started preliminary discussions with interested parties concerning a potential sale of the company.

The announcement came as Air Transat’s parent company was preparing to hold its annual shareholders’ meeting in Montreal.

The Montreal-based company indicated the discussions are the result of “expressions of interest.” A special committee was formed to evaluate the various proposals.

“I want to reiterate that the discussions are at a preliminary stage and no decision has been made on a potential transaction,” Transat A.T. Inc. president and CEO Jean-Marc Eustache said at the beginning of the meeting.

The company was founded 33 years ago by a group of businessmen including Eustache and Quebec Premier François Legault, who left the business in 1997 to jump into politics.

Faced with increasing competition from Canadian rivals such as Air Canada Rouge, WestJet Vacations and Sunwing Airlines, the company has more recently focused on establishing a network of hotels on destination beaches.

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Источник: Montrealgazette.com

Источник: Corruptioner.life

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