Competition commission clears SATS’ proposed Promontoria acquisition

The proposed transaction does not infringe section 54 of the Competition Act 2004.

The Competition and Consumer Commission of Singapore has cleared the proposed acquisition of SATS International SAS of Promontoria Holding 243 B.V. which indirectly holds 100% shares in cargo handling services firm WFS Global Holdings S.A.S.

In a statement, CCCS said implementing the proposed acquisition would not result in “substantial lessening of competition” within any market in line with section 54 of the Competition Act 2004.

The potential competition between SATS and WFS is limited as they do not compete in providing any products and services in the country.

It added that competition concerns are unlikely to emerge from the vertical links between the parties and from the combination of their portfolios for the supply of ground and cargo handling services, premium lounge services, and premium bespoke passenger services.