Transat A.T. Inc. – the 70% shareholder of TraficTours Canada Inc. — has now acquired the 30% minority interest in the incoming tour operator held by the minority shareholder, following 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.
It acquired the minority interest on May 31, 2021.