Subject : Business acquisitions and mergers
MONTRAL, June 1, 2021 / CNW / – Transat AT inc. (Transat or laSocit 頻), 70% shareholder of TraficTours Canada inc. (TraficTours), announces today that it has acquired on May 31, 2021 the minority stake of 30% held by the minority shareholder in the receiving tour operator, following a mutual agreement between the two parties. The purchase price is less than the amount recorded in Transat’s financial statements due to the option to purchase this minority interest. The minority shareholder had the option of requiring Transat to buy its minority stake since 2019. The manager of TraficTours and its subsidiaries remains in place to ensure the smooth running of the operations.
TraficTours offers tours and other services to vacationers staying in Mexico, the Dominican Republic and Jamaica. By becoming the sole shareholder, Transat consolidates its reception services in three of these main markets.
Warning regarding forward-looking statements
This press release contains certain forward-looking statements about Transat. These statements are based on certain assumptions deemed reasonable by Transat, but are subject to certain risks and uncertainties, many of which are beyond the control of Transat, which may cause the results to vary considerably. Transat disclaims any intention or obligation to publicly update or revise any forward-looking statement, whether in light of new information, future events or otherwise, unless required by securities laws.
The reader should note that the foregoing list of factors does not include all of the factors that may affect the Company’s forward-looking statements. The reader is also urged to carefully consider these and other factors, and not to place undue reliance on forward-looking statements. The Company considers that the assumptions on which these forward-looking statements are based are reasonable.
These statements reflect current expectations regarding future events and operating performance, and are only relevant as of the date of issuance of this press release, and represent the Company’s expectations on that date. For more details on these and other factors, see the MD&A for the year ended October 31, 2020 and the MD&A for the quarter ended January 31, 2021 filed with the Canadian securities commissions and available. on SEDAR at www.sedar.com The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. on applicable securities.
Transat AT inc. is a large integrated international tourism company specializing in vacation travel. Offering vacation packages, hotel stays and air connections under the Transat and AirTransat brands, the company is present in some sixty destinations in more than 25 countries in America and Europe. Transat is very committed to the sustainable development of the industry. tourism, as evidenced by its multiple corporate responsibility initiatives deployed over the past 14 years and obtained Travelife certification in 2018. The Company is based in Montreal (TSX: TRZ).
SOURCE Transat A.T. Inc.
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