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

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Air Canada said on Thursday it will buy Canadian tour operator Transat AT Inc in an all-cash deal valued at C$520 million (S$529.6 million) to create a Montreal-based global travel services company.

[BENGALURU] Air Canada said on Thursday it will buy Canadian tour operator Transat AT Inc in an all-cash deal valued at C$520 million (S$529.6 million) to create a Montreal-based global travel services company.

As part of the deal, Transat shareholders will receive US$13 per share.

The deal comes days after WestJet Airlines received a C$3.5 billion buyout offer from billionaire Gerry Schwartz's private equity firm Onex Corp.

REUTERS

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