Travel company Transat AT in talks regarding possible sale of company

News provided by CityNews/The Canadian Press

BY THE CANADIAN PRESS | APR 30, 2019

An Air Transat sign is seen in Montreal on May 31, 2016. THE CANADIAN PRESS/Paul Chiasson

Transat AT Inc. says it is in preliminary talks regarding the possible sale of the company.

The announcement came as the company prepared to hold its annual meeting in Montreal.

The travel company says it is in talks with more than one party regarding a potential transaction following expressions of interest it received.

Transat says it has formed a special committee of independent directors to evaluate the proposals with the assistance of financial and legal advisers.

The company noted the talks are at a preliminary stage and that there can be no assurance that any transaction will take place.

Transat offers vacation packages, hotel stays and air travel under the Transat and Air Transat brands.