SATS sells 49.0% SERVAIR-SATS stake to Gate Gourmet
SATS sold 509,600 or $6.14m.
SATS has entered into a sale and purchase agreement with Gate Gourmet Switzerland Holding GmbH to sell 509,600 or 49.0% ordinary shares in SERVAIR-SATS for $6.14m (€4.5m).
The proposed disposal is part of the SATS’ capital recycling and reallocation strategy to optimise its investment portfolio and unlock value for stakeholders.
Proceeds from the disposal will be used to repay debt and/or deploy capital in core strategic businesses.
Temasek, which indirectly holds over 15% of SATS shares, is deemed to be a controlling shareholder of the company. Meanwhile, Gate Gourmet, in which Temasek indirectly holds more than 30% interest, is considered to be an associate of Temasek.
The proposed disposal is not expected to have any material impact on SATS’ earnings for FY2026.
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