Montreal, Qc, Canada, October 17, 2005
Transat A.T. Inc. announces that it plans to acquire 20 Carlson Wagonlit Travel (CWT) agencies in France through Transat’s French subsidiary Eurocharter SAS, which operates under the Club Voyages name. The transaction would include the acquisition of the 20 agencies and the transfer of 41 CWT employees, entailing no loss of jobs. The draft agreement for the acquisition is being presented today to the Comités Central d’Entreprise, Comités d’Entreprise and Comités d’Établissement of the various companies concerned in France. The transaction is set to close in November.
“We will be very pleased to welcome into our network organizations that are strategic for us, and also men and women of proven ability from Carlson Wagonlit Travel,” said Jean-Marc Eustache, President and Chief Executive Officer of Transat A.T. Inc.
The acquisition of these agencies will significantly strengthen Transat’s presence in regions of France where its network had less presence. With these 20 new agencies, Transat’s distribution network will now include 72 wholly owned establishments across France.
Transat A.T. Inc., with its head office in Montreal, is an integrated company specializing in the organization, marketing, and distribution of holiday travel. The core of its business consists of tour operators in Canada and France. Transat is also involved in air transportation, value-added services at travel destinations, as well as in distribution through travel agency networks. Transat is listed on the Toronto Stock Exchange (TSX:TRZ.B; TRZ.RV.A).