Transat A.T. Inc. (“Transat”) confirms that it has taken note of the press release issued earlier today by Group Mach Inc. regarding its expressed interest to privatize Transat.
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, beginning upon the commencement of a formal due diligence review. During this exclusivity period it is contemplated that Air Canada will complete its due diligence review and the parties will finalize the negotiation of a definitive agreement regarding the acquisition of all of the shares of Transat. This exclusivity period expires towards the end of June 2019.
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.