Passenger Terminal Today - Elizabeth Baker
Supply chain services and infrastructure company Agility has finalized its £763m (US$923.9m) acquisition of UK-based John Menzies and will combine the business with its National Aviation Services (NAS) subsidiary.
Operating as Menzies Aviation, the combined company will provide air cargo services, fuel services and ground services at airports on six continents. According to Agility, the combined company will be the world’s largest aviation services company by the number of countries and the second largest by the number of airports served. The new company will have approximately 35,000 employees and operations at 254 airports in 58 countries, handling 600,000 aircraft turns, two million tons of air cargo and 2.5 million fueling turns per year.
The boards of Agility and Menzies reached an agreement on March 30 on Agility’s cash offer to acquire 100% of Menzies’ ordinary shares... The deal values Menzies at approximately £571m (US691.3m) on a fully diluted basis and approximately £763m (US$923.9m) on an enterprise value basis.