SATS announced recently that its wholly-owned subsidiaries, SATS Investments and Cemerlang, have entered into a share sale and purchase agreement to acquire an aggregate of 869,220,800 ordinary shares in Cardig Aero Services, which represents approximately 41.65% of the entire issued and paid-up share capital of CAS.
The transaction is in line with SATS' strategy to grow its food and gateway businesses by accessing value-creating opportunities. CAS, a leader in food solutions and gateway services, is focussed on the same core business as SATS. Indonesia is a priority market for SATS and this acquisition will bring new opportunities for connectivity between the companies' mutual customers.
