It's been a long time under discussion, but finally Menzies has committed to the purchase of ASIG, ending months of speculation within the ground handling sector.
Menzies, the logistics and support specialist that provides services to the international airline sector and the UK print media, travel and parcel markets, has today announced the proposed acquisition of ASIG, the aviation services provider and a leading independent fuelling services provider, for an enterprise value of US$202m from owner BBA Aviation.
The acquisition is to be funded through a £75m fully underwritten equity rights issue and new debt package to comprise a US$250m term loan and a £150m RCF, which will also replace existing indebtedness of the Group.
