SATS previously said that the disposal is consistent with its capital recycling and reallocation strategy to optimise its investment portfolio and unlock value for stakeholders.
Shares in SATS closed 2 cents higher or 0.66% up at $3.05 on June 26.
Global cargo handling firm SATS has completed the disposal of its stake in caterer Servair for EUR4.2 million ($6.27 million), according to a bourse filing on June 26.
The company entered into a sale and purchase agreement with Gate Gourmet Switzerland Holding (GmbH), a subsidiary of Gategroup on June 5, in which SATS will dispose of 509,600 ordinary shares or 49% of the paid-up share capital of Servair-Sats. Servair is owned by Gategroup.
