newstodate.aero
May 8, 2015 (newstodate): According to a Danish trade union website, Swissport should now have forwarded its bid for the acquisition of SAS Ground Handling.
-The period agreed by the parties for exclusive cooperation in the form of a JV to be followed by a take-over has now expired, and both parties have placed their bids, the website says.
It is understood that the SAS Group bid can be seen as an indication of the level, Swissport has to match to secure a deal.
Little news has else reached the market on the acquisition by Swissport of SAS Group's handling companies SGH and Spirit Air Cargo Handling since the signing of a LoI on March 7, 2013.
As a first step, the parties intended to set up a JV company with Swissport holding 51 and SAS 49 percent of the shares, to which the business and operations of SAS ground handling and Spirit cargo handling would be transferred.
According to the release issued in March, Swissport would next take over both management and operations of the joint-venture prior to the eventual full acquisition initially expected by the end of 2013 - but still pending.
In the meantime, the SAS Group merged SGH and Spirit Air Cargo Handling in July 2012, and taking effect from September 1, 2013, the SAS Group's handling activities were corporatized separately in each of the three Scandinavian countries, Denmark, Norway and Sweden.
-The period agreed by the parties for exclusive cooperation in the form of a JV to be followed by a take-over has now expired, and both parties have placed their bids, the website says.
It is understood that the SAS Group bid can be seen as an indication of the level, Swissport has to match to secure a deal.
Little news has else reached the market on the acquisition by Swissport of SAS Group's handling companies SGH and Spirit Air Cargo Handling since the signing of a LoI on March 7, 2013.
As a first step, the parties intended to set up a JV company with Swissport holding 51 and SAS 49 percent of the shares, to which the business and operations of SAS ground handling and Spirit cargo handling would be transferred.
According to the release issued in March, Swissport would next take over both management and operations of the joint-venture prior to the eventual full acquisition initially expected by the end of 2013 - but still pending.
In the meantime, the SAS Group merged SGH and Spirit Air Cargo Handling in July 2012, and taking effect from September 1, 2013, the SAS Group's handling activities were corporatized separately in each of the three Scandinavian countries, Denmark, Norway and Sweden.