Montreal-based company Transat A.T. Inc.,says that a German company has made a 54.5-million-worth euro offer to purchase its Transat France and Tourgreece tour businesses.
Transat France and Tourgreece tour businesses are worth about $80.3 million. Transat A.T. says it expects to seal the deal with TUI AG before the end of October as it’s pending various approvals.
Transat A.T. operates an integrated travel business which includes flights on its Air Transat airline and vacation packages in North America, Europe and other destinations. According to the Canadian Press, German TUI Group operates in 180 destinations around the world and employs 76,000 people in 130 countries, whereas Transat France and Athens-based Tourgreece combined have 800 employees.
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