News / SATS €2.25bn takeover of WFS will create world’s largest ground handler

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 a global leader that can become the go-to provider of ...