SATS

INFLIGHT caterer and ground handler SATS has entered into an agreement to acquire Paris-based air cargo handler Worldwide Flight Services (WFS) for a ...

Singapore-based ground handling service firm SATS Ltd is acquiring Worldwide Flight Services for €1.19 billion (RM5.25 billion) in cash, making the combined ...

SINGAPORE :Singapore-based ground handling services firm SATS Ltd is acquiring Paris-based Worldwide Flight Services (WFS) for 1.19 billion euros (US$1.14 ...

SATS said it had committed funding in place to finance the purchase of WFS through an acquisition bridge facility. It has more than 300 customers and employs 32,300 staff, the company said. Advertisement

By Yifan Wang SATS Ltd. is buying one of the world's largest air-cargo handlers, Worldwide Flight Services, for 1.19 billion euros, ($1.14 billion) as it...

The financing could include a placement of new shares or other hybrid securities or convertible instruments, it said. Trading in SATS shares was halted earlier in the day. advised SATS on the deal.

Singapore-based cargo handler SATS has reached agreement to buy Worldwide Flight Services (WFS) from an affiliate of asset investor Cerberus Capital.

“Over the past four years, WFS has become a global leader by growing its network and investing in technology, operating capabilities, and customer solutions. “Our proposed acquisition is a transformational opportunity for SATS and will create a global leader and a go-to provider of mission critical aviation services. SATS has been listed on the Singapore Exchange since May 2000. Following the close of the transaction, WFS will become a wholly owned subsidiary of SATS and the WFS management team will continue to lead the business. We have great respect for SATS and enjoy similar values. SATS is a great partner for WFS and the combination will enhance growth and the value proposition for customers.”

The deal will be financed with a $1.7 billion equity fund-raising, with the balance coming from internal cash resources, Sats said.

It confirmed last week that it was in ongoing discussions with Cerberus Capital Management to acquire the air cargo handler after Bloomberg News The proposed acquisition has to be put to shareholders’ vote in an extraordinary general meeting that is slated to be held by early 2023. The deal is expected to close by March 2023. Meanwhile, Sats is already present in four of the top 10 cargo airports in Asia, including Hong Kong, Taipei, Singapore and Beijing. Founded in 1984, WFS operates in five of the top 10 cargo airports in North America and Europe, the Middle East and Africa, including Los Angeles, Chicago, Miami, Frankfurt and Paris. The combined network of the two entities will cover trade routes comprising more than 50 per cent of global air cargo volume, with strategic hubs in Asia, Europe and the United States, as well as in new growth markets including Latin America and Africa.

SINGAPORE: Singapore-based ground handling services firm SATS is acquiring Paris-based Worldwide Flight Services (WFS) for S$1.65 billion cash, ...

It has more than 300 customers and employs 32,300 staff, the company said. Advertisement

Airline ground handler and food catering services provider SATS plans to acquire the world's largest air cargo handling firm, Worldwide Flight Services ...

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SINGAPORE — Singapore-based ground handling and catering provider Sats is acquiring Paris-based Worldwide Flight Services (WFS) for 1.19 billion euros ...

Sats said it had committed funding in place to finance the purchase of WFS through an acquisition bridge facility. It has more than 300 customers and employs 32,300 staff, the company said. Advertisement

Singapore-based ground handling services firm SATS Ltd is acquiring Paris-based Worldwide Flight Services (WFS) for 1.19 billion euros ($1.14 billion) cash, ...

It has more than 300 customers and employs 32,300 staff, the company said. Founded in 1984, WFS is the world’s largest air cargo logistics provider and a leading provider of ground handling and technical services. WFS reported 1.722 billion euros in revenue and earnings before interest, taxes, depreciation, and amortization of 232 million euros for the year ended March 2022. “This is a transformational opportunity for SATS and our proposed acquisition of WFS will create a global leader…,” Kerry Mok, SATS’ CEO, said in a statement on Wednesday. SATS said the purchase would be “immediately financially accretive” on a proforma basis and raise SATS’ earnings per share by 78 percent to 3.2 Singapore cents from 1.8 cents reported for the year to March, and increase revenue by more than 200 percent. Singapore-based ground handling services firm SATS Ltd is acquiring Paris-based Worldwide Flight Services (WFS) for 1.19 billion euros ($1.14 billion) cash, to create the world’s biggest global air cargo handler, the companies said.

Investment firm Cerberus Capital Management has accepted a takeover bid from Singapore ground handler SATS for air cargo handler Worldwide Flights Services ...

“Our customers are telling us they want seamless support across regions, in a way that simplifies and strengthens their own operations. “From our hub in Singapore and in our newly combined markets, SATS and WFS will be at the heart of global trade flows, operating in the world’s busiest airports and supporting the biggest companies. “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,” said Kerry Mok, president and CEO of SATS.

SINGAPORE -- Singaporean airport services provider SATS will acquire air cargo handler Worldwide Flight Services for 1.19 billion euros ($1.14 billion.

SINGAPORE -- Singaporean airport services provider SATS will acquire air cargo handler Worldwide Flight Services for 1.19 billion euros ($1.14 billion), strengthening its presence in the U.S. and Europe and expanding operations to more than 20 countries.

The Singapore-listed company will acquire WFS from a unit of Cerberus Capital Management in a transaction that gives the Paris-based air cargo handler an ...

To fund the acquisition SATS said it has arranged a bridging loan equivalent to as much as €1.2 billion euros. Their combined network across strategic hubs in Asia, Europe and the U.S. WFS operates across major airports in Los Angeles, Chicago, Miami, Frankfurt and Paris, while SATS has operations in key hubs across Beijing, Hong Kong, Singapore and Taipei. The deal is expected to be completed by March 2023. “From our hub in Singapore and in our newly combined markets, SATS and WFS will be at the heart of global trade flows, operating in the world’s busiest airports and supporting the biggest companies.” “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, president and CEO of SATS, said in a

The combined entity's network will cover trade routes responsible for more than 50 per cent of global air cargo volume. The mainboard-listed company's shares ...

But the market can be short-sighted at times.” Despite the negativity at the moment, many market insiders seem sanguine about the longer term prospects for the company, and said investors will ultimately make a judgement on the merits of the deal and its contribution to the bottom line. “You saw this with Sembcorp Marine, Singapore Airlines and other stocks. That said, this deal is a good one for Sats in the longer term, as it makes the company a formidable global air cargo player. The company will make a rights issue of 609 million new shares at $2.79 per share to raise the bulk of the funds. SINGAPORE - Shares of Sats plunged sharply to a two-year low after the stock resumed trading on Thursday morning, following news of the company’s deal to buy the world’s largest air cargo handler for $1.64 billion.

By Justina Lee SATS Ltd.'s shares fell Thursday morning, following news the company is buying one of the world's largest air-cargo handlers. Shares fell as.

The deal will make SATS the world's largest air-cargo handler, with a combined network covering trade routes for over 50% of global air-cargo volume, the company said in a filing. Trading in SATS shares was halted Wednesday. SATS Ltd.'s shares fell Thursday morning, following news the company is buying one of the world's largest air-cargo handlers.

SATS Share Price Tumbles Amid S$1.64 Billion Acquisition: 5 Things Investors Need to Know · 1. A leader in the air cargo sector · 2. Strong infrastructure with a ...

[How To Find The Best US Growth Stocks For Your Portfolio](https://thesmartinvestor.com.sg/how-to-find-the-best-us-growth-stocks-for-your-portfolio-art/). There is no shortage of stock ideas today, but is a particular stock suitable for you? [Click HERE](https://thesmartinvestor.com.sg/how-to-find-the-best-us-growth-stocks-for-your-portfolio-art/) to download the report for free now! How do you decide if a growth stock is worth your money? [Telegram](https://t.me/thesmartinvestorsg) for the latest investing news and analyses! [paying out a dividend](https://thesmartinvestor.com.sg/could-sia-and-sats-pay-a-dividend-this-year/). Around a quarter of WFS’ revenue comes from its top five customers, with the bulk (64%) coming from a range of different customers. The group has signalled its intention for an equity fundraising exercise to raise S$1.7 billion, and the plan will assume all of WFS’ debt of around S$1.7 billion. By FY2025 and with the purchase of WFS, Asia will contribute around 45% of revenue, with the Americas making up 30% and EMEA (Europe, Middle East and Africa) taking up the remaining 25%. Prior to the announcement, the group was enjoying a strong recovery with the reopening of borders and the resumption of air travel. [acquisition](https://thesmartinvestor.com.sg/are-mergers-acquisitions-always-good-for-investors/). [improved set of earnings](https://thesmartinvestor.com.sg/sats-swings-into-the-black-5-highlights-from-the-airline-caterers-fy2022-earnings/) for its fiscal 2022 ending 31 March 2022, with core net loss reduced by more than half to S$8.5 million.

Airport service company SATS Ltd. announced plans to acquire the world's largest air cargo handling firm, Worldwide Flight Services (WFS).

“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. announced plans to acquire the world’s largest air cargo handling firm, Worldwide Flight Services (WFS), for a cash consideration of $1.639b or €1.187b. The acquisition will be immediately financially accretive on a pro forma basis, raising earnings per share by 78% from $0.018 to $0.032.

"Long-term shareholders may stay invested [in SATS] although near-term share price could weaken on macro uncertainty:" CGS-CIMB.

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