SATS shareholders greenlight acquisition of Worldwide Flight Services

Of the total votes, 96.80% were in favour of the transaction.

Shareholders of SATS Ltd. (SATS) have approved the company’s proposed acquisition of Worldwide Flight Services (WFS) via voting at an Extraordinary General Meeting.

The results of the poll showed that 96.80% of the total number of votes were in favour of the transaction.

“With the receipt of shareholder approvals, the proposed acquisition of WFS now remains
subject to requisite regulatory approvals,” SATS said.

SATS said it is eyeing to complete the acquisition by March or April 2023.

The airport service company will finance the transaction partly by way of a Proposed Rights Issue to raise to approximately $800m.

“In proceeding with the Proposed Rights Issue, the terms and timing of the Proposed Rights Issue will be determined by SATS in agreement with its underwriters and published at the appropriate time,” it announced.

Follow the link for more news on

SATS

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia