LONDON (ShareCast) - Newspaper distributor and support services company John Menzies has agreed to buy a ground handling business which operates at the Stockholm and Gothenburg airports in Sweden.
John Menzies will purchase Novia Sverige from Novia Scandinavia for £8.75m in cash, subject to local regulatory clearance, which should take 30 days.
"This is a significant step in our plans to create regional density in Scandinavia,” said Craig Smyth, managing director of Menzies Aviation. “The region is an attractive market and we look forward to growing our operations by providing customers with a first class service,” Smyth added.
Menzies Aviation has been busy on the acquisitons front of late. The latest purchase follows the acquisition earlier this month of Johannesburg-based MMA Consolidators and the acquisition last month of Airline Cargo Resources, a cargo handling business based in South Africa.
-1.25p
