Transat A.T. Inc. acknowledges receipt of Groupe Mach Inc.’s conditional proposal letter

Transat A.T. Inc. confirmed that it has received from Groupe Mach Inc. a non-binding and conditional proposal letter regarding its expressed interest to privatize Transat. Such proposal is subject to numerous conditions including obtaining financing and undertaking a due diligence process.

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Transat A.T. Inc. confirmed that it has received a non-binding and conditional proposal letter regarding its expressed interest to privatize the company from Groupe Mach Inc. John Chung Photo
Groupe Mach’s offer to purchase Transat came after Air Canada had already offered to do the same, less than a month before. John Chung Photo

Transat would like to reiterate that it has entered into an agreement with Air Canada, pursuant to which it has agreed to a 30-day binding period of exclusive negotiations to conclude a definitive agreement, as previously announced. For the remainder of this exclusivity period, it is contemplated that Air Canada will complete its due diligence review in order for the parties to finalize a definitive agreement regarding the acquisition of all of the shares of Transat.

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Transat does not intend to provide further updates or comments with respect to the foregoing except as required by law.

There is no assurance that a definitive agreement will be reached in relation to any proposed transaction.

The operations of Transat continue in their normal course and there will be no change for its clients, suppliers and employees. In particular, travellers and clients of Transat can continue to travel and book their flights and vacation packages with Transat as usual.

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