June 25, 2019 / 2:38 PM / a year ago

Canada's Group Mach waives financing conditions for Transat deal

June 25 (Reuters) - Real estate developer Group Mach Inc said on Tuesday it has waived its financing conditions relating to its C$527.6 million bid to acquire Canadian tour operator Transat AT Inc.

The developer had previously said the deal is contingent on Quebec providing about C$120 million in acquisition financing.

Earlier this month, Group Mach made a formal proposal for Transat, topping an offer from the country’s largest airline Air Canada.

Montreal-based Transat is locked in an exclusivity period with Air Canada that ends on June 26. (Reporting by Debroop Roy in Bengaluru; Editing by Shinjini Ganguli)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below