Transat Selling Jonview To Japanese Company For $44M
Transat A.T. Inc. has signed a deal to sell its inbound tour operator Jonview Canada to Japanese travel multinational H.I.S. Co. for $44 million.
Jonview employs 180 people in Toronto and Montreal, along with 120 seasonal guides and brings approximately 300,000 international visitors to Canada annually.
The sale is part of Transat’s strategic refocusing around its leisure travel operations in Canada and development of its hotel division.
Chief executive Jean-Marc Eustache says the sale will accelerate that development.
"With this transaction, Transat has carried out the implementation of its strategic refocusing around its leisure travel operations in Canada and development of its hotel division," said Jean-Marc Eustache, President and Chief Executive Officer, Transat. "The sale of our Canadian incoming tour operator business will accelerate development of those key sectors.”
The sale is expected to close around November 30, 2017, pending approval by the Competition Bureau.