temasek-plays-musical-chairs-with-assets

Temasek plays musical chairs with assets

Temasek sells its controlling interest in Singapore Food Industries to a subsidiary of Singapore Airlines and realises $219 million.
Singapore Airport Terminal Services SATS yesterday announced that it has agreed to buy a 69.68% stake in Singapore Food Industries SFI for S$334.5 million $219 million. The stake is being sold by Ambrosia Investment, a wholly owned subsidiary of Temasek Holdings.

SATS also counts as a Temasek company since it is 80%-owned by Singapore Airlines, which in turn is 54.4% owned by the Singapore investment firm. It is a service provider that offers ground handling and catering services at Singapore's Changi Airport. Via a number of joint ventures, it provides food services at 40 airports across nine countries.

The target, SFI, is one of SingaporeÆs largest integrated food companies with activities in supplies,...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222