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Proxy adviser ISS recommends Sats shareholders approve WFS acquisition

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Yong Jun Yuan

Yong Jun Yuan

Published Mon, Jan 9, 2023 · 10:43 PM
    • ISS says that as a split-funded purchase, the proposed acquisition also gives Sats to avoid putting too much pressure on any one funding stream.
    • ISS says that as a split-funded purchase, the proposed acquisition also gives Sats to avoid putting too much pressure on any one funding stream. PHOTO: BT FILE

    PROXY adviser Institutional Shareholder Services (ISS) said Sats shareholders should approve the proposed acquisition of air cargo handler Worldwide Flight Services (WFS), as it considers the deal an “effective investment opportunity”.

    In its report published Jan 5, ISS noted WFS’ expertise in the cargo handling industry, handling services and expansive global network as factors supporting the deal.

    “With WFS as an indirect wholly owned subsidiary of the company, it is expected that the company will be able to capture more of the cross-border logistics market and successfully extend its presence across the key leading hubs,” ISS said.

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