Investment firm Cerberus Capital Management has accepted a takeover bid from Singapore ground handler SATS for air cargo handler Worldwide Flights Services (WFS) in a deal worth €2.25bn ($2.15bn).
In a statement to the Singapore Stock Exchange, SATS said the deal would create the world’s largest ground handler and significantly strengthen its presence outside the Asia-Pacific region.
“This is a transformational opportunity for SATS, and our proposed acquisition of WFS will create …
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