Commodities

Quebec real estate developer Group Mach makes formal bid for Transat

Real estate developer Group Mach Inc said on Friday it had submitted a formal offer for Canadian travel operator Transat AT Inc on Thursday.

June 14 (Reuters) - Real estate developer Group Mach Inc said on Friday it had submitted a formal offer for Canadian travel operator Transat AT Inc TRZ.TO on Thursday.

Mach had said earlier this month it would take Transat private at C$14 per share in cash, C$1 more than Air Canada's AC.TO all-cash offer that valued the parent company of leisure carrier Air Transat at C$520 million.

(Reporting by Debroop Roy in Bengaluru; Editing by Maju Samuel)

((Debroop.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1690; Reuters Messaging: debroop.roy.thomsonreuters.com@reuters.net))

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