CCCS calls for public feedback on SATS’ proposed acquisition of Promontoria

The public can submit feedback until 18 November at 5 pm.

The Competition and Consumer Commission of Singapore (CCCS) is calling for public feedback on SATS Ltd.'s proposed acquisition of Promontoria Holding 243 B.V. through its indirectly wholly-owned subsidiary SATS International SAS.

In a statement, CCCS said the assessment of the transaction is to ensure that it will not infringe Section 54 of the Competition Act 2004 which “prohibits mergers that have resulted or may be expected to result, in a substantial lessening of competition within any market in Singapore.

Promontoria indirectly owns 100% shares in WFS Global Holdings S.A.S., a Paris-based company involved in cargo handling, ground handling, passenger and premium lounge, and other freight-related services.

Parties of the transaction claimed that it will not lessen the competition in the Lion City as there is no horizontal overlap in the provision handling services in the country, as well as in premium passenger services.

They also claimed that customers such as airlines and credit card firms can easily switch between providers of premium lounge services and can self-supply such services by getting the relevant concession and rental space from the Changi Airport Group.

Meanwhile, SATS was appointed by WFS to provide security screening, check-in services, baggage handling and peripheral services at the JetQuay CIP Terminal which it manages.

The parties said competition concerns will not emerge from such vertical links as the “merged entity will have no ability or incentive to foreclose competition on the upstream or downstream markets.”

Feedback from the public will be accepted until 18 November 2022 at 5 pm.

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