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SATS unit in JV for subscription for 49% stake in Mumbai Cargo Service Center

PC Lee Published on Thu, Dec 28, 2017 / 8:40 AM GMT+8

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SINGAPORE (Dec 28): SATS says wholly-owned subsidiary, SATS Investments (II) (SIPL2) has subscribed to a 49% stake in Mumbai Cargo Service Center Airport Private Limited (MCSC).

MCSC is a newly-incorporated company which is wholly-owned by Cargo Service Center India (CSC).

Under the subscription agreement executed with CSC on Tuesday, SIPL2 has subscribed for 1.4 million new shares of MCSC for $1.03 million in cash.

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SATS unit in JV for subscription for 49% stake in Mumbai Cargo Service Center