GATE GOURMET BUYS MAJORITY STAKE IN SKYGOURMET

admin
By admin November 12, 2010 10:15

GATE GOURMET BUYS MAJORITY STAKE IN SKYGOURMET

Global airline catering company Gate Gourmet has acquired a majority interest in Indian airline caterer Skygourmet. The UK caterer has acquired a 74% stake interest in Skygourmet from India Hospitality Corporation (IHC) for $39 million in a combination of cash and assumption of debt deal. IHC is also to receive an additional payment in connection with the sale of certain land in Delhi owned by Skygourmet. The parent company will retain a 26% interest in the Indian caterer.

Guy Dubois, CEO of Gate Gourmet, says “The Skygourmet acquisition fits perfectly with our growth strategy and with our objective to add to shareholder value by increasing gategroup’s presence in emerging markets. We’re confident this addition will grow our topline and improve profit margins.”

admin
By admin November 12, 2010 10:15
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Ffinance%2Fgate-gourmet-buys-majority-stake-in-skygourmet%2F"> registered </a> users can comment.