SINGAPORE, Sept 28 (Reuters) - Singapore-based ground handling and catering provider SATS Ltd (SATS.SI) is acquiring Paris-based Worldwide Flight Services (WFS) for 1.19 billion euros ($1.14 billion) cash in its largest ever deal, to create the world's biggest global air cargo handler.
SATS' CEO Kerry Mok called the deal "a transformational opportunity for SATS", saying it would create a global leader.
Last week, Bloomberg News reported that SATS had sounded out financing for a possible deal that could be worth about $3 billion.
WFS reported 1.722 billion euros in revenue and earnings before interest, taxes, depreciation, and amortization of 232 million euros for the year ended March 2022.
Founded in 1984, WFS is the world's largest air cargo logistics provider and a major provider of ground handling and technical services.