ZAWYA: Saudi’s SAL to acquire Belgium ground handling firm Aviapartner Liege for $32.8mln

About this update from Sal Saudi Logistics Services Company

Staff WriterSaudi Logistics Services Company (SAL) has signed a sale and purchase agreement to acquire a 100% stake in Belgium airport ground handling firm Aviapartner Liege for 123 million Saudi Arabian riyals ($32.8 million).The SPA, signed with Aviapartner Belgium NV and Aviapartner Holding NV, will be a cash consideration deal, financed through SAL’s available resources.The Saudi firm said the acquisition supports its international expansion strategy by establishing an operational footprint at a key European cargo hub, expanding its cargo ground handling and logistics service offerings at international airports, and geographically diversifying its revenue streams.(Writing by Bindu Rai, editing by Seban Scaria) [email protected]: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

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