Transat A.T. Inc, Air Transat's owners, have concluded the sale of its Jonview Canada business unit today,. They have flogged off Canada's leading incoming tour operator, for $44 million Cdn to Japanese multinational H.I.S. Co. Ltd., which specializes in travel distribution. The price could be adjusted on the date of final closing of the accounts. On November 10, the Competition Bureau of Canada said the transaction did not warrant its intervention.
"The sale of Jonview Canada completes our strategic refocusing around three main pillars: air transportation and travel distribution, which make up our leisure travel operations, as well as hotel operation," said Jean-Marc Eustache, President and Chief Executive Officer of Transat. "This transaction is the latest in a series of initiatives we have implemented in recent years to carry out the company's new development strategy and ensure its long-term prosperity."
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