SATS eyes $71m deal to acquire 49% stake in Malaysian airline caterer

KL’s Brahim’s Airline Catering also serves Malaysia Airlines.

Aiming to further bolster its airline catering business, the airline services firm offered Brahim's Holdings Berhad a total of RM218 for​ a 49% stake in Malaysian airline caterer Brahim’s Airline Catering.

According to a statement by SATS, the proposed consideration for the proposed acquisition is RM 110 million.

Meanwhile, an additional earnout consideration of RM108m will be paid when certain financial targets are hit.

SATS says that BACH’s parent, Malaysian-listed BHB is still in the process of considering the terms of the offer.

However, SATS believes the acquisition would not have any material impact on the company’s net tangible assets or earnings per share for the current financial year.