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Transat AT selling Jonview Canada tour business to Japanese company for $44M
MONTREAL – Transat A.T. Inc. has signed a deal to sell its Jonview Canada tour business to Japanese travel company H.I.S. Co. Ltd. for $44 million.
Jonview Canada sells tour packages for international visitors to Canada.
The company employs 180 people in Toronto and Montreal, along with 120 seasonal guides.
Transat says the sale is part of its strategic refocusing around its leisure travel operations in Canada and development of its hotel division.
Chief executive Jean-Marc Eustache says the sale will accelerate development of those key sectors.
The sale is subject to the approval of the Competition Bureau and other usual conditions. It is expected to close on or around Nov. 30.
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