SATS to become world’s largest cargo handler with $1.64 bil acquisition of cargo handling firm WFS

Airline ground handler and food catering services provider SATS plans to acquire the world’s largest air cargo handling firm, Worldwide Flight Services (WFS), for EUR1.19 billion ($1.64 billion) in cash.

With WFS's enterprise value standing at EUR2.25 billion, the transaction implies an EV/ebitda multiple of 9.7x.