Reports re-emerge suggesting Swissport is up for sale

By Damian Brett

Reports have re-emerged suggesting that cargo handler Swissport is up for sale.

Reuters reports that the handler’s owner, China-based conglomerate HNA, is looking to offload Swissport at a discount in order to raise cash and cut debts.

It is suggested that buyout firms Apollo Global Management and Cerberus, and asset manage Brookfield could all be interested in bidding for the company.

This is not the first time that reports have circulated that Swissport could be sold by the troubled HNA Group.

In late 2018 it was suggested that buyers were circling the company, with Brookfield named as a potential buyer in a deal worth around $3bn.

Cerberus, which purchased handler Worldwide Flight Services in 2018, was also reported to have considered buying the company in 2018.

This time round Reuters suggests that HNA will sell for around $2.3bn. HNA bought Swissport in 2016 in a $2.8bn deal.

HNA also considered listing Swissport on the SIX Swiss Exchange, but later cancelled those plans.

 

Share this story

Related Topics

Latest acquisitions news

Forwarder Delmar expands US presence with Rotra acquisition

By Damian Brett

Canadian freight forwarder Delmar International has announced the acquisition of Rotra, LLC and Rotra Brokerage Services, Inc. Delmar said the…

Read More

Share this story

DSV Panalpina confirms thousands of jobs to go as integration continues

By Damian Brett

Freight forwarder DSV has confirmed to Air Cargo News reports that suggest thousands of jobs will be cut as a…

Read More

Share this story

DSV Panalpina registers improved airfreight volumes but margins in focus

By Damian Brett

DSV saw airfreight revenues and volumes improve last year thanks to its acquisition of Panalpina in August, but margins came…

Read More

Share this story