Business
Transat, majority shareholder of TraficTours Canada Inc. since 2007, acquires the remaining 30% of the incoming tour operator
Transat, majority shareholder of TraficTours Canada Inc. since 2007, acquires the remaini...
About this update from Transat A.t. Inc.
[{"type":"text","content":"\n \n \n \n Transat, majority shareholder of TraficTours Canada Inc. since 2007, acquires the remaining 30% of the incoming tour operator\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTREAL\n \n ,\n \n June 1, 2021\n \n /CNW/ - Transat A.T. Inc. (\"Transat\" or the \"Corporation\"), 70% shareholder of TraficTours Canada Inc. (\"TraficTours\"), announced today that it has acquired on\n \n May 31, 2021\n \n the 30% minority interest in the incoming tour operator held by the minority shareholder, following a mutual agreement between the two parties. The purchase price is for an amount lower than the amount booked in Transat's financial statements on account of the option to purchase such minority interest. The minority shareholder had the option to require Transat to purchase the minority interest since 2019. The manager of TraficTours and its subsidiaries remains in place to ensure the operations run regularly.\n \n \n TraficTours offers excursions and other services to vacationers in\n \n Mexico\n \n , the\n \n Dominican Republic\n \n and\n \n Jamaica\n \n . By becoming sole shareholder, Transat is strengthening its inbound services in three of these key markets.\n \n \n \n Caution regarding forward-looking statements\n \n \n 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, several of which are outside the control of Transat, which may cause results to vary materially. Transat disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by securities laws.\n \n \n The reader is cautioned that the foregoing list of factors is not exhaustive of the factors that may affect any of the Corporation's forward-looking statements. The reader is also cautioned to consider these and other factors carefully and not to place undue reliance on for...