Transat says it’s in talks for a potential sale

Transat says it’s in talks for a potential sale

MONTREAL — Transat says it is in preliminary discussions with more than one company concerning a potential transaction involving its acquisition.

A statement issued by Transat this morning reads: “These discussions result from expressions of interest received by the Corporation. The Corporation has formed a special committee of independent directors to evaluate the proposals with the assistance of financial and legal advisors, consider, and if deemed advisable, undertake a process for the formal review of strategic alternatives, consider any alternative proposal, and make recommendations to the Board of Directors in the best interests of the Corporation and all its stakeholders.”

The statement also says: “This situation has no impact on the clients or employees of Transat, nor on its operations, which are continuing as usual.”

Transat adds that the discussions are at a preliminary stage. “No decision has been made as to any potential transaction. There can be no assurance that any transaction will take place. The Corporation does not intend to provide further updates or comments with respect to the foregoing except as required by law.”

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