SATS shareholders greenlight acquisition of Worldwide Flight Services

Of the total votes, 96.80% were in favour of the transaction.

Shareholders of SATS Ltd. (SATS) have approved the company’s proposed acquisition of Worldwide Flight Services (WFS) via voting at an Extraordinary General Meeting.

The results of the poll showed that 96.80% of the total number of votes were in favour of the transaction.

“With the receipt of shareholder approvals, the proposed acquisition of WFS now remains
subject to requisite regulatory approvals,” SATS said.

SATS said it is eyeing to complete the acquisition by March or April 2023.

The airport service company will finance the transaction partly by way of a Proposed Rights Issue to raise to approximately $800m.

“In proceeding with the Proposed Rights Issue, the terms and timing of the Proposed Rights Issue will be determined by SATS in agreement with its underwriters and published at the appropriate time,” it announced.

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