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Breakingviews – Singapore air cargo deal elevates its hub status
Singapore is boosting its hub status as global recession fears loom. Aviation services group SATS is acquiring the world’s largest air cargo logistics provider for $2.2 billion from U.S. buyout firm Cerberus. The backing of its sovereign fund shareholder Temasek will help the buyer complete a supporting equity issuance, equivalent to 40% of its $3 billion market capitalisation, in a grim market.

Breakingviews – Singapore air cargo deal elevates its hub status

Singapore is boosting its hub status as global recession fears loom. Aviation services group SATS is acquiring the world’s largest air cargo logistics provider for $2.2 billion from U.S. buyout firm Cerberus. The backing of its sovereign fund shareholder Temasek will help the buyer complete a supporting equity issuance, equivalent to 40% of its $3 billion market capitalisation, in a grim market.