Transat Shareholders Approve Air Canada Takeover

By Paul Riegler on 23 August 2019
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DSC_4872Transat A.T announced that its shareholders overwhelmingly voted in favor of Air Canada’s 720 million Canadian dollar ($541.4 million) takeover offer.

“We are delighted by the shareholder support for the arrangement,” said Jean-Marc Eustache, Transat’s CEO.

Following the closing of the acquisition, which still requires legal and regulatory approval, Air Canada will continue to use the Transat and Air Transat brands and the Transat unit will remain headquartered in Montreal.

“For shareholders of Transat and Air Canada, the combination delivers excellent value, while also providing increased job security for both companies’ employees through greater growth prospects,” said Calin Rovinescu, Air Canada’s CEO.

When the deal was originally announced in June, Air Canada said it will result in a “global leader in leisure, tourism and travel distribution.”

(Photo: Accura Media Group)

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