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Sats buys 42% of Indonesian company in same industry

Published on Feb 19, 2014 9:59 PM

FOOD solutions and gateway services group Sats said on Wednesday that it is buying 41.65 per cent of an Indonesian company in the same industry.

The purchase of the stake in PT Cardig Aero Services (CAS) will cost about 1.108 trillion rupiah. (S$129 million)

"The transaction is in line with Sats' strategy to grow its food and gateway businesses by accessing value-creating opportunities," it said in an announcement.

"CAS, a leader in food solutions and gateway services, has presence in 17 airports across Indonesia. It is focussed on the same core business as Sats."

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