Transat A.T. announced on Tuesday (June 1) that it has acquired its 30% minority interest in TraficTours Canada Inc., a ground services provider that offers airport, hotel, transportation and tours and activities for vacationers.
Transat was previously a 70% shareholder of the incoming tour operator. This latest exchange was the result of 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,” Transat A.T. said in a statement.
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