Transat's top shareholder turns down Pierre Karl Péladeau's offer: The Globe and Mail

Transat's top shareholder turns down Pierre Karl Péladeau's offer: The Globe and Mail

Transat's top shareholder turns down Pierre Karl Péladeau's offer: The Globe and Mail

FILE PHOTO: An Air Transat airline takes off from Paris Charles de Gaulle airport in Roissy-en-France following the coronavirus disease (COVID-19) outbreak in France March 24, 2020. REUTERS/Charles Platiau

(Reuters) – Canadian tour operator Transat AT Inc’s largest shareholder Peter Letko said he will not sell his shares at the price offered by Quebec businessman Pierre Karl Péladeau, the Globe and Mail reported on Tuesday.

Letko Brosseau and Associates Vice President Peter Letko said he supports Transat AT’s plan to seek $500 million in loans and to operate independently rather than sell at a reduced price, the report here said.

Reporting by Manojna Maddipatla in Bengaluru; Editing by Shailesh Kuber