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AirCan Outbid for Transat – Business News


Airkan outbid for Transat

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A Quebec developer who has promised a proposal for Transat At Inc has made a good impression on his word, outbidding Air Canada in the process.

Vincent Chiara Group Match Inc. Filed with a formal proposal by the tour operator Thursday.

The Montreal real estate heavyweight says he has proposed obtaining all of Transat's voting shares for $ 14 or $ 527.6 million.

Transat began talks exclusively with Air Canada, ending June 26, after the country's largest airline made $ 13 a share or $ 520 million last month.

On Friday, Transat confirmed its proposal and said the proposal, which would take the publicly-held company Privat, is subject to finance conditions and a proper deletion process. The travel company added that Air Canada is expected to complete its own delinquency to conclude a definitive agreement, but it was certain that it would be reached.

The city of Cairo, including the Revelation of the quebec government, is trying to finance nearly one-quarter of the purchase. He says he submitted a Business Quebec Investment Plan earlier this month.

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