Péladeau Reaffirms to Open Jaw His Desire to Buy Transat

Transat plane.With the future of Air Canada’s acquisition of Transat A.T. still in doubt, a spokesperson for Pierre Karl Péladeau confirmed to Open Jaw this weekend that the Québecor CEO is still interested in buying the tour operator.

“Being still subject to confidentiality obligations, Mr. Péladeau cannot legally comment on the case of the potential sale of Transat other than to reaffirm his interest in acquiring the company,” spokesperson Annick Bélanger told Open Jaw.

PKP’s last public statement on his interest in buying the Montreal-based company through his private investment firm was on 13FEB, after the federal government approved AC’s takeover of Transat.

In a press release released earlier this month, Transat said it could only undertake discussions with Péladeau if the agreement with Air Canada was terminated.

“There is no need to worry about a plan B,” said Chief Executive Officer Jean-Marc Eustache. “A lot of work is being done in the background, and all of it will come into the foreground if and when the time is ripe.”

The uncertainty over the original deal with Air Canada lies in the fact that the original deadline to close it was 15FEB. That date has passed and either side can now walk away from it. The sale cannot be finalized until it is approved by the European Commission which has only said it would make a decision in the first half of the year.

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