Air Canada purchase of Transat to undergo assessment until May says minister

OTTAWA — Air Canada’s shareholder-approved deal to buy Transat A.T. will undergo a 250-day public interest assessment.Transport Minister Marc Garneau says he’s approved an extra 100 days for Transport Canada and the Commissioner of Competition to complete the assessment of the $720-million transaction by May 2.He says the additional time was granted because of the size and scope of the proposed deal.Consultations will begin Nov 4.The minister will make a recommendation about the purchase to cabinet. There is no legislated timeline for the minister to make his recommendations or for cabinet to make a final decision.The takeover is expected to face intense scrutiny from the Competition Bureau and other regulatory authorities, including in Europe. Transat had said it expected the deal to close early next year.The deal will narrow the field of airline competition, securing for Air Canada about 60 per cent of the Canadian transatlantic market and helping the company maintain a firm hold on Montreal air travel.Both Air Canada and Transat are headquartered in Montreal, but worries persist around the future of Transat’s head office and potential job losses. Companies in this story: (TSX:TRZ, TSX:AC)The Canadian Press read more

Opportunity to exhibit at SMMT Meet the Buyer

The Society of Motor Manufacturers and Traders is offering companies, business development services and academic institutions an exclusive opportunity to exhibit at its Meet the Buyer event on 23 May in the West Midlands.With hundreds of one-to-one meetings due to take place on the day, SMMT’s ‘Meet the Buyer’ event is the largest business building event of its kind, providing a mechanism for vehicle manufacturers and supply chain companies to forge new trade partnerships.Providing exhibiting companies with a platform to showcase their product ranges, concepts and services, the event typically attracts around 200 industry delegates and will include multiple networking opportunities.To find out more about purchasing exhibition space at SMMT’s Meet the Buyer event, contact Sian Hughes on [email protected] or 020 7344 1663.For more information about participating as a buyer or a supplier at the events, visit the Meet the Buyer page or contact Nikki Huggett on [email protected] to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) read more