Singapore’s SATS to buy Worldwide Flight Services for $1.1 bln

Wed Sep 28 2022
Austin Collins (455 articles)
Singapore’s SATS to buy Worldwide Flight Services for $1.1 bln

Singapore-based ground handling services firm SATS Ltd (SATS.SI) is acquiring Worldwide Flight Services (WFS) for 1.19 billion euros ($1.14 billion) in cash, making the combined group the world’s biggest global air cargo handler, the companies said on Wednesday.

“This is a transformational opportunity for SATS and our proposed acquisition of WFS will create a global leader that can become the go-to provider of mission critical aviation services,” Kerry Mok, SATS’ CEO, said in a statement.

SATS is buying WFS from an affiliate of U.S. private equity firm Cerberus Capital Management.

Tags Singapore
Austin Collins

Austin Collins

Austin Collins is our Europe, Asia, & Middle East Correspondent. He covers news related to Stock Market. In past he has worked for many prestigious news & media organizations. He is based in Dubai