The M&A window of opportunity is wide open
The bigger the better, on merit
By Alex Lennane
ASL Aviation, the company which bought TNT’s air operations after its acquisition by FedEx, has been bought by Star Capital, a European private equity firm.
The fund manager bought the airline group from Compagnie Maritime Belge, which held a 51% stake having first invested in 1998, and 3P Air Freighters, a 49% shareholder whose sole interest was ASL.
In 2017, ASL made a profit of €15.27m, on revenue of €957.7m.
According to company accounts, TNT’s operations, acquired in May 2016, would have ...
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