May 17 - Transat A.T. Inc. wishes to update the market regarding its discussions with Mr. Pierre Karl Péladeau regarding the potential acquisition of all of the shares of Transat through his holding company Gestion MTRHP inc.

 

On April 7, 2021, Mr. Péladeau delivered to Transat a non-binding proposal contemplating a transaction pursuant to which MTRHP would acquire all of the shares of Transat for a consideration of $5.00 per share, payable in cash. Although this proposal required a response within two days, the parties have from that date and until May 13 continued their discussions on the basis of this proposal and it has been thoroughly reviewed by the special committee of independent directors responsible for evaluating any proposal to acquire the Transat shares with the assistance of financial and legal advisors.

 

Transat has taken note of Mr. Péladeau’s public statements of yesterday but has not received any formal communication on this matter.

 

Transat announced on April 29, 2021 that it had reached an agreement with the Government of Canada to borrow up to $700 million in additional liquidity through the Large Employer Emergency Financing Facility (LEEFF). This additional liquidity allows the company to plan for the resumption of its operations and the implementation of its strategic plan for the coming years.

 

 

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