Transat Is In Preliminary Discussions For Potential Sale
Bruce Parkinson, Open Jaw
Transat is in preliminary discussions with more than one party concerning a potential transaction involving the acquisition of the vertically-integrated travel corporation.
The company says the discussions result from expressions of interest. Transat says it has formed a special committee of independent directors to evaluate the proposals with the assistance of financial and legal advisors.
If deemed advisable, Transat will undertake a process for the formal review of strategic alternatives, consider any alternative proposal, and make recommendations to the Board of Directors.
Transat says the 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,” the company says in a statement. “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.”
Bruce Parkinson Editor-in-Chief
An observer and analyst of the Canadian and international travel industries for over 25 years, Bruce uses the pre-dawn hours to prepare a daily news and information package to keep industry members up to date.