SATS (SGX:S58) has formed a partnership with Avilog Logistics Services, acquiring a 49% stake in SATS Saudi Arabia, according to a Monday filing on the Singapore Exchange.
Avilog Logistics Services, a joint venture between Albawardi Holding Group (ABG) and Abdulkadir Al Muhaidib and Sons Company (AMG), will provide local expertise and infrastructure to support SATS' growth.
The partnership focuses on enhancing air cargo services and expanding multimodal capabilities, including a new cargo facility in Jeddah.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.