MONTREAL — Transat A.T. Inc. says a German company has made a firm offer to purchase its Transat France and Tourgreece tour businesses, worth about $80.3 million.

The Montreal-based company says it expects the 54.5-million euro deal with TUI AG to close before the end of October, pending various approvals.

Transat A.T. operates an integrated travel business that includes flights on its Air Transat airline and vacation packages in North America, Europe and other areas.

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TUI Group operates in 180 destinations around the world and employs 76,000 people in 130 countries.

Transat says the proposed transaction will have no impact on its operations.

Paris-based Transat France is the fourth largest tour operator in France, where it operates under the Vacances Transat and Look Voyages brands.

Transat France and Athens-based Tourgreece have a combined 800 employees and total sales of approximately $650 million.

“We believe this announcement sets the stage for a potential acquisition by Transat to strengthen its North American presence,” wrote Benoit Poirier, an analyst at Desjardins Capital Markets. Poirier said the company now has $200 million to put towards a deal and is likely to target a U.S.-based tour operator.

With a file from Kristine Owram, Financial Post