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Dec 20, 2013 (newstodate): In July 2013, Swissport announced plans for the acquisition of its competitor in the global ground handling business, Servisair.
According to the initial statement, Swissport expected the transaction to close in the fourth quarter of this year, subject to regulatory approval.
Now, close to this deadline, nothing further has been heard about the acquisition.
The planned tie-up would comprise Servisair's global business currently providing ground services for around 106 million passengers and 645,000 tonnes of cargo a year on behalf of some 500 client companies at 118 locations in 20 countries on four continents, and Swissport's provision of ground services to around 118 million passengers and 3.5 million tonnes of cargo a year on behalf of some 650 client-companies at 180 stations in 38 countries across five continents.
In the meantime, Swissport's negotiations with the SAS Group over its acquisition of SGH has remained on the shelf, except for a limited and mostly symbolic move in the form of a 10 percent stake in the company.
It is widely expected that further advances between Swissport and the SAS Group will remain suspended till the issues concerning the larger deal with Servisair have been fully completed.
-I expect the closing to still take place in 2013, no delays in sight, says Sabine Meinitz, Swissport International.
According to the initial statement, Swissport expected the transaction to close in the fourth quarter of this year, subject to regulatory approval.
Now, close to this deadline, nothing further has been heard about the acquisition.
The planned tie-up would comprise Servisair's global business currently providing ground services for around 106 million passengers and 645,000 tonnes of cargo a year on behalf of some 500 client companies at 118 locations in 20 countries on four continents, and Swissport's provision of ground services to around 118 million passengers and 3.5 million tonnes of cargo a year on behalf of some 650 client-companies at 180 stations in 38 countries across five continents.
In the meantime, Swissport's negotiations with the SAS Group over its acquisition of SGH has remained on the shelf, except for a limited and mostly symbolic move in the form of a 10 percent stake in the company.
It is widely expected that further advances between Swissport and the SAS Group will remain suspended till the issues concerning the larger deal with Servisair have been fully completed.
-I expect the closing to still take place in 2013, no delays in sight, says Sabine Meinitz, Swissport International.