Transaction to take effect October 31

MONTREAL, Oct. 21, 2016/CNW Telbec/ - Following study of the transaction documents filed on September 16, 2016, the European Commission has authorized the sale, with no conditions attached, of Transat A.T.'s France- and Greece-based tour-operating business units (Transat France and Tourgreece) to TUI AG. The transaction will take effect on October 31, pursuant to the provisions of the transfer agreement concluded on June 21.

In January 2016, Transat had announced its intention to dispose of its tour-operating assets in Franceand Greece in order to pursue implementation of its refocusing strategy and to accelerate its development in the Americas market. On May 11, TUI AGpresented a firm offer of purchase for an estimated enterprise value of €54.5 million, subject to working-capital adjustments at closing. The transaction will have no impact either on Transat's transatlantic program or on Air Transat's operations in Canadaand Europe.

About Transat

Transat A.T. Inc. is an integrated international tour operator with more than 60 destination countries and that distributes products in over 50 countries. A holiday travel specialist, Transat operates mainly in Canadaand Europe, as well as in the Caribbean, Mexicoand the Mediterranean Basin. Montreal-based Transat is also active in air transportation, accommodation, destination services and distribution. Transat's is a recognized Travelife Partner whose firm commitment to sustainable tourism development is reflected in its multiple corporate responsibility initiatives. (TSX: TRZ).

SOURCE Transat A.T. Inc.

Odette Trottier, Director, Communications and Corporate Affairs, Transat A.T. Inc., 514 908-8891, odette.trottier@transat.com

Transat A.T. Inc. published this content on 21 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 October 2016 11:13:02 UTC.

Original documenthttps://www.transat.com/en-CA/corporate/media/news-releases/123994

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