Sats (SATS.SI) said on Wednesday it had bought a 40% stake in Saudi Arabia’s Adel Abuljadayel Flight Catering Company (AAFC) for US$18.5 million ($22.8 million).
AAFC is an inflight caterer that serves private jets and international airlines such as Cathay Pacific Airways (0293.HK).
It has two catering facilities located at King Abdulaziz International Airport in Jeddah and King Khalid International Airport in Riyadh, Saudi Arabia. In 2010, AAFC reported a revenue of about US$11 million, said Sats in a statement.
AAFC is an inflight caterer that serves private jets and international airlines such as Cathay Pacific Airways (0293.HK).
It has two catering facilities located at King Abdulaziz International Airport in Jeddah and King Khalid International Airport in Riyadh, Saudi Arabia. In 2010, AAFC reported a revenue of about US$11 million, said Sats in a statement.
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