May 31, 2019 / 2:20 PM / a year ago

BUZZ-Transat's top investor urges to drop Air Canada deal, shares rise

** Shares of Canadian international tour operator Transat AT Inc up 3.1% at C$11.96; Air Canada down 0.5% at C$40.14

** Co’s top investor urges to drop out of Air Canada deal, The Globe & Mail reported

** Earlier in May, Air Canada said here it was in exclusive talks to buy the parent company of leisure carrier Air Transat in an all-cash deal valued at C$520 mln

** The deal, which has not yet been presented to shareholders, requires approval of two-thirds of Transat investors, the report said

** Shares of Air Canada have risen ~55% this year, while those of Transat doubled to ~101% in the year to date (Reporting By Arundhati Sarkar in Bengaluru)

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