The completion of the proposed acquisition is conditional upon the works council rendering advice under Article 25 of the Dutch Works Council Act and the signing protocol. The works council has authority over the employees of Menzies World Cargo (Amsterdam) and WFS Netherlands. The procedures under the SER merger code 2015 will also have to be completed. SER stands for Sociaal-Economische Raad.
Sats’ indirect wholly-owned subsidiary, Worldwide Flight Services Holland B.V. (or WFS Netherlands), has proposed to acquire Menzies World Cargo (Amsterdam) B.V., Menzies Aviation’s general cargo handling operations at Amsterdam Schiphol Airport, the main international airport in the Netherlands.
WFS Netherlands entered into a signing protocol with Menzies Aviation (Cargo) B.V. on Aug 30 to acquire all of the latter’s shares in Menzies World Cargo (Amsterdam). The signing protocol governs a period up until the signing of an agreed form share purchase agreement (SPA). Menzies World Cargo (Amsterdam) offers airline cargo handling services to global airline customers and freight forwarders at Amsterdam Schiphol Airport, through a single dedicated on-airport warehouse.
