SATS to Sell 49% of Servair JV to Swiss Airline Caterer Gategroup for €4.2M

TigerNews SG06-06

Ground handler SATS plans to divest its 509,600 ordinary shares (approximately 49% of the paid-up share capital) in holding company Servair-Sats to Swiss-based airline caterer Gategroup. The consideration, established through arm's length negotiations at approximately €4.2 million (S$6.1 million), will be paid in full cash by Gategroup subsidiary Gate Gourmet Switzerland.

Servair-Sats is a joint venture between SATS and caterer Servair, which Gategroup acquired from Air France-KLM.

SATS stated on Thursday (Jun 5) that the divestment aligns with its capital recycling and reallocation strategy aimed at optimizing its investment portfolio and unlocking stakeholder value. Monetizing its minority stake in Servair-Sats will strengthen SATS's balance sheet, enabling resources to be redirected towards debt repayment and/or deployment into core strategic businesses.

The proposed sale is not expected to materially impact SATS’s consolidated net tangible assets per share or earnings per share for the fiscal year ending March 2026.

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