SATS

2022 - 9 - 22

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Image courtesy of "theloadstar.com"

Singapore's SATS considers $3bn purchase of WFS - The Loadstar (theloadstar.com)

It has long been asked: who will buy global handler WFS? It appears that Singapore's SATS could be in the running for the business, valued at about $3bn.

It appears that Singapore’s SATS could be in the running for the business, valued at about $3bn. British Airways faces a fresh strike tomorrow at its Heathrow cargo facility Unite union members are ... WFS was acquired in 2018 by PE, Cerberus Capital. Worldwide Flight Services (WFS) has acquired Mercury Air Cargo, the largest air cargo handler in ... Forwarders are threatening to stop using airlines whose handlers have very high charges in the ... It has long been asked: who will buy global handler WFS?

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Image courtesy of "The Straits Times"

Sats said to be in talks to buy Worldwide Flight Services (The Straits Times)

SINGAPORE - Catering and gateway services provider Sats is in talks to acquire air cargo handler Worldwide Flight Services, the company confirmed Wednesday. The ...

The company also provides ground handling services as well as technical support to airlines. The Singapore-listed company has sounded out financing for the potential purchase, said the people, who asked not to be identified as the information is private. Founded in 1971, Paris-based Worldwide Flight Services is the world's largest air cargo handler operating in more than 160 major airports in over 20 countries, according to its website. Trading in Sats shares was halted late Wednesday afternoon after the Bloomberg News report, pending an announcement. The notes were the day’s biggest winners among European junk-rated bonds in early trading. Deliberations are ongoing and details could still change.

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Image courtesy of "Bloomberg"

Singapore's SATS Confirms Talks to Buy Cerberus-Backed WFS (Bloomberg)

SATS Ltd., a catering and gateway services provider, is in ongoing discussions to acquire air cargo handler Worldwide Flight Services from its private ...

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Image courtesy of "Reuters"

SATS says it is in talks to buy air cargo firm Worldwide Flight Services (Reuters)

Bloomberg News had reported earlier in the day that SATS had sounded out financing for the potential deal, which could be for about $3 billion. The in-flight ...

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Image courtesy of "CNA"

SATS in talks to buy Worldwide Flight Services in reported $3 billion ... (CNA)

Singapore-based ground handling services firm SATS Ltd on Wednesday confirmed that it is in discussions to acquire air cargo logistics company Worldwide ...

WFS is owned by private equity firm Cerberus Capital Management. In a separate statement, WFS confirmed talks with SATS for a possible transaction, but did not divulge any details on the deal. :Singapore-based ground handling services firm SATS Ltd said on Wednesday it is in talks to buy Paris-based air cargo logistics company Worldwide Flight Services (WFS).

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Image courtesy of "The Business Times"

SATS in talks to buy Worldwide Flight Services; no definitive terms ... (The Business Times)

The mainboard-listed inflight caterer and ground handler called for a trading halt earlier in the day following a Bloomberg report, based on sources, of a ...

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Image courtesy of "The Edge Singapore"

SATS said in talks to buy US$3 billion Worldwide Flight Services (The Edge Singapore)

SATS, a catering and gateway services provider, is in talks to acquire air cargo handler Worldwide Flight Services from its private equity owner Cerberus ...

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Image courtesy of "The Edge Singapore"

SATS calls for trading halt, first in over 13 years (The Edge Singapore)

Airport ground handler and catering service provider SATS has requested for a trading halt as of 3.11pm. According to SGX filings, this is the company's ...

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Image courtesy of "The Business Times"

Hot stock: SATS hits 2.5-month low following news of potential ... (The Business Times)

SATS shares dropped to a 2.5-month low on Thursday (Sep 22) morning, after the inflight caterer and ground handler disclosed on Wednesday that it is in ...

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Image courtesy of "theloadstar.com"

SATS confirms interest in $3bn WFS, but 'does it have the financial ... (theloadstar.com)

SATS has confirmed that it is in talks to buy Worldwide Flight Services - but was clear to note that no purchase price has been agreed.

One executive said: “SATS is not a great company in handling, it’s very old-school. Not a good fit really.” “SATS started building capabilities ahead of volume at the beginning of 2022. In July, it said AAT had opened Hong Kong’s first on-airport temperature-controlled facility, AAT Coolport, replicating a facility at Changi. Its most recent full-year results, ending 31 March, reveal SATS has been subsidised by the Singapore government. Management expects the trajectory to accelerate in the second half of the year and, therefore, it is important that the group invests ahead of the curve to be ready to take on the new volume from Singapore and overseas markets.”

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