MONTREAL, June 1, 2021 /CNW/ - Transat A.T. Inc. ("Transat" or the "Corporation"), 70% shareholder of TraficTours Canada Inc. ("TraficTours"), announced today that it has acquired on May 31, 2021 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.
TraficTours offers excursions and other services to vacationers in Mexico, the Dominican Republic and Jamaica. By becoming sole shareholder, Transat is strengthening its inbound services in three of these key markets.
Caution 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, 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.
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 forward-looking statements. The Corporation 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, speak only as of the date this press release is issued, and represent the Corporation's expectations as of that date. For additional information with respect to these and other factors, see 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 Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.
Transat A.T. Inc. is a leading integrated international tourism company specializing in holiday travel. Under the Transat and Air Transat banners, the Corporation offers vacation packages, hotel stays and air travel to some 60 destinations in over 25 countries in the Americas and Europe. Transat is firmly committed to sustainable tourism development, as reflected in its multiple corporate responsibility initiatives over the past 14 years and obtained Travelife certification in 2018. The Corporation is based in Montréal (TSX : TRZ).
SOURCE Transat A.T. Inc.
Source: Transat A.T. Inc. (www.transat.com); Media relations: Odette Trottier, Directrice, Communications and Corporate Affairs, 514 987-1660, ext. 4430