Temasek-backed PSA Group – M&A hunting has its own (MSC-like) flavour
Connecting dots and rumours
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62091698
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You might remember it.
It was in August last year when Singapore-based SATS disclosed a collaboration agreement with an undisclosed “prominent global freight forwarder” aimed at creating “innovative cross-border services”.
We purely guessed back then the new partner would be Kuehne + Nagel. And Kuehne + Nagel (K+N) it was, as disclosed later in October.
The ground handler’s value story ever since, however, has been mixed at best.
Trading at S$2.57 when the K+N tie-up was ...
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