Rumors say european decision this weekhttps://www.journaldemontreal.com/2021/01/06/les-chances-dapprobation-de-la-vente-de-transat-a-peine-du-50-50-selon-un-expert
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Air Canada is expected to be set "over the next few days" on whether or not the European Commission will approve its purchase of Air Transat. "It's not official, but it should happen this week," believes Andrea Collart, a competition consultant and partner at Avisa Partners in Brussels. According to this former employee of the European Commission's Directorate-General for Competition, the odds of the deal being approved are 50-50. “This is not the case of the century, but Air Canada has been aggressive before the Commission, which could work against it. " The sale of Transat to Air Canada has been studied by European regulatory authorities since May. They want to make sure the deal doesn't push prices up by lowering supply. The Commission had given itself until February 9 to render a decision. She recently suspended that deadline, according to what can be read on her website. The federal government must also approve Another decision awaited in this case is that of Ottawa. Transport Minister Marc Garneau and the government of Justin Trudeau, however, have not announced any timeline on this file. Air Transat shareholders approved the transaction twice rather than once. The first time in August 2019, then the second last month. In the meantime, the price offered has dropped steadily due to the pandemic. Of the $ 720 million initially offered, Air Canada is now only offering $ 190 million, or 72% less.
"We are now going to work to obtain, as soon as possible, the regulatory authorizations that will allow us to finalize the transaction before February 15," declared the head of Transat, Jean-Marc Eustache, during the approval of the sale by shareholders on December 15."