bullish
SATS: Integrating WFS –Key to Acquisition Success
SUMMARY
- In September 2022, as the world began to rebound from COVID-era travel restrictions, Singapore-listed SATS Ltd. made waves with an audacious move.
- With a market cap of SGD 4.5 billion, SATS announced plans to acquire global air cargo giant Worldwide Flight Services (“WFS”) for up to €1.3 billion (S$1.9 billion), valuing the deal at an enterprise value (“EV”) of €2.25 billion (S$3.1 billion).
- The market reacted with skepticism, sending SATS' share price plummeting by 35% as concerns over equity dilution and debt levels unsettled investors accustomed to steady dividends and strong returns.
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- SATS: Integrating WFS –Key to Acquisition Success17 Mar 2025
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