Air Canada receives Transat shareholders takeover approval

The takeover of Transat by Air Canada has been approved by a majority of nearly 95% of its shareholders. The deal, which will see Air Canada acquire all Transat’s issued and outstanding shares, looks set to be completed by early 2020. If such approvals are obtained and conditions are met, the transaction is expected to be completed in early 2020. “We are pleased with the outcome of Transat’s special meeting and grateful to Transat shareholders for this overwhelming show of support,” said Calin Rovinescu, president and chief executive officer of Air Canada. “We will build a combined company greater than the sum of its parts that we can all be proud of. “We now look forward to engaging with Transport Canada and the Competition Bureau to secure the required approvals to complete the transaction and welcome the opportunity to demonstrate the many benefits it will bring.”  

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