Singapore-based ground handling and catering provider SATS Ltd is acquiring Paris-based Worldwide Flight Services (WFS) for 1.19 billion euros ($1.14 billion) cash in its largest ever deal, to create the world's biggest global air cargo handler.
SATS Food Services restock a Singapore Airlines plane at Changi Airport in Singapore October 24, 2020. REUTERS/Edgar Su/File Photois acquiring Paris-based Worldwide Flight Services for 1.19 billion euros cash in its largest ever deal, to create the world's biggest global air cargo handler.
SATS has a market value of S$4.35 billion and counts Singapore state investor Temasek Holdings as its single biggest shareholder, according to Refinitiv data. Trading in shares of SATS, which have dropped 5.4% over the past week, was halted earlier on Wednesday.
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