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SATS, AirAsia ink ground-handling deal

31 Oct 2017 16:08:10

flightglobal.com

SATS and AirAsia have entered into a share swap and share sale deal, to gain an interest in each other's ground handling units.


Under the deal, SATS will acquire a 50% stake in AirAsia's Ground Team Red Holdings (GTRH) for S$119.3 million ($87.6 million). In exchange, GTRH will get an 80% stake in SATS Ground Services Singapore (SGS Singapore).


Thereafter, GTRH will be renamed SATS Ground Team Red Holdings (SATS GTRH). This will be a 50:50 joint investment vehicle of AirAsia and SATS, that will hold stakes in both Ground Team Red Malaysia (GTR Malaysia) and SGS Singapore.


Read full story: flightglobal.com

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