SATS inks pact with WFS to expand ops in Asia, Americas

Singapore-based cargo handler SATS has signed an agreement to buy Worldwide Flight Services (WFS) from an affiliate of asset investor Cerberus Capital Management with an enterprise value worth €2.25bn, stated a release. The transaction will bring together WFS, the world’s largest air cargo handler, and SATS, a provider of aviation services in Asia. The combination will create a first of its kind global air cargo platform with scale and a network of stations across Asia, the Americas, and Europe. The customers will benefit from the combined platform’s “broader suite of services, operational best practices, and integrated technology”, the release added.