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Quebec court approves Air Canada's proposed takeover of Transat

Tour operator Transat A.T. Inc. said Aug. 29 that the Superior Court of Quebec has approved Air Canada's proposed acquisition of the company for about C$720 million.

Approximately 94.77% of Transat shareholders have also approved the planned transaction, according to the release.

The parties still need to secure other regulatory approvals for the deal, which is expected to close in the second quarter of 2020.