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Transat A.T. Inc. announces its intention to acquire 100% of Consultour/Club Voyages
Transat A.T. Inc. (TSE:TRZ) has announced its intention to acquire all of the outstanding shares of Les Agences CT/CV inc., a private holding company with ten shareholders that owns a 50% interest in Consultour/Club Voyages.
Transat currently holds a 50% interest in Consultour/Club Voyages, and has done so since 1988. Consultour/Club Voyages acts as a consolidator (a wholesaler of airline tickets at preferential fares), and a franchisor of travel agencies in Quebec (with 160 sales outlets). It also holds travel agencies in Quebec and in France (the Euro Charter/Club Voyages network with 47 sales outlets in French territory).
Transat plans to make separate purchase offers to each of the shareholders of Les Agences CT/CV inc. in the very near future. The private transaction may be completed during the month of April 2000 and could leave Transat holding up to a 100% interest in Consultour/Club Voyages.
Transat A.T. Inc., the leader in the Canadian tourism industry, is a public corporation listed on the Toronto Stock Exchange. Through its subsidiaries and affiliated companies, it is active in all aspects of the organization and distribution of travel services as well as in air transportation.
Air Transat, an air carrier, is a wholly owned subsidiary, as are Air Transat Holidays (Montreal, Quebec City, Toronto, Vancouver, and Fort Lauderdale), Vacances Air Transat (France), Brok’Air (France), Voyages Nolitour (Montreal), Regent Holidays (Toronto), which are tour operators; as well as the Tourbec travel agency chain, the airport handling services company, Services Haycot, and the retail e-commerce company, Exit Travel.
Transat A.T. Inc. holds an interest in tour operators Look Voyages (98%) and World of Vacations (35%), and in Consultour/Club Voyages (50%), a travel-agency franchise group. In addition, Air Transat Holidays holds an interest in the incoming tour operator DMC Transat (66.7%), and Look Voyages holds an interest in STAR Airlines (49.6%).