Sats-WFS deal: Pro forma financials in circular show lower immediate boost to earnings, EPS
SINCE announcing plans to acquire Worldwide Flight Services more than three months ago, Sats has consistently said the “transformational” deal will make it more resilient and unlock significant growth potential.
But information provided by the in-flight caterer and ground handler about the immediate financial impact of the transaction has since been updated.
When Sats unveiled the S$1.8 billion acquisition of WFS on Sep 28 last year, it said in a statement that the deal would boost its earnings per share (EPS) for the financial year to Mar 31, 2022 by 78 per cent on a pro forma basis.
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