Shareholder group sells AAT stake

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Thursday, 23 March 2017

A group of shareholders have agreed to sell their stake in Hong Kong’s Asia Airfreight Terminal (AAT) to investment firm Holistic Capital Investment, a subsidiary of Hong Kong Airlines.

The deal involves Kerry Logistics and Singapore firms Keppel Telecommunications & Transportation and airport services group SATS and delivers 35 per cent of AAT for a total of HK$875 million.

Kerry Logistics said: “The disposal will enhance the cash position and working capital of the company, and thus allow the group to restructure its strategic business position and focus in pursuing development opportunities on its core 

businesses and/or other potential acquisitions in the future.”

After the sale, SATS will remain AAT’s largest shareholder with 45 per cent of the operation.