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Swissport to acquire Servisair

5-Aug-2013 12:39 PM

Swissport and the French Derichebourg SA announced (02-Aug-2013) they have signed a definitive agreement under which Swissport will acquire Servisair from the French Derichebourg SA. In this context Swissport has secured appropriate financing for the acquisition by issuing and successfully pricing a USD390 million senior secured add-on note. The acquisition has been unanimously approved by the boards of directors of both companies and is subject to merger clearance by the competent merger control authorities. Total revenue of Servisair in FY2012 was EUR688 million with a workforce of 15,000. The service portfolio of Servisair consists of ground handling, cargo, fuelling, load control and airport services.  The transaction is expected to close in 4Q2013, subject to regulatory approval. [more - original PR]