The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

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

Published Thu, May 16, 2019 · 12:44 PM
Share this article.

[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

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Transport & Logistics

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here