SATS to acquire Worldwide Flight Services for €2.25bn to create biggest global cargo network

SATS, a Singapore-based cargo handling service, is all set to buy Worldwide Flight Services (WFS) from an affiliate of asset investor Cerberus Capital Management in a deal with an enterprise value of €2.25bn. The deal will be the biggest acquisition by SATS, having a market value of $3 billion. This acquisition will bring together WFS, the air cargo handler with operations in the Americas and Europe, and SATS, a cargo service provider in Asia, creating the largest global cargo handler, responsible for more than 50% of global air cargo volume and positioning SATS as the largest cargo handler globally, managing