Transat announced on Tuesday that it had acquired, the day before, the 30% of shares it lacked from the tour operator TraficTours Canada.
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Already a majority shareholder since 2007 at 70%, Transat thus becomes the sole owner of TraficTours. The tour operator specified that the manager of TraficTours and its subsidiaries remains in place “to ensure the smooth running of operations”.
“The purchase price is an amount lower than the amount recorded in Transat’s financial statements, due to the option to purchase this minority interest,” the air carrier said in a press release, without disclosing the amount of acquisition.
With this buyout, Transat consolidates its position in the three markets of Mexico, Jamaica and the Dominican Republic, where the tour operator TraficTours offers its services to tourists and other vacationers.