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Updated on : 7:56 am GMT | Wednesday 11th of September 2016 10
Issued By Business & Finance Group | Dubai Media City | Issue No.305
News Archive
S.Korea's STX Heavy Industries builds Saudi plants
Business & Finance Club - Jeddah : South Korea's STX Heavy Industries said Thursday it has signed a preliminary 1.1 billion dollar deal to build chemical plants in western Saudi Arabia.
Rio Tinto-BHP Billiton Pilbara joint venture close to collapse
Business & Finance Club - Sydney: RIO Tinto's $US116 billion iron ore venture with BHP Billiton is close to collapsing after regulators objected to the deal.
Vimpelcom in $6.6 bln deal to buy Orascom, Wind
Business & Finance Club - Cairo : Russian mobile operator Vimpelcom (VIP.N) will buy Italian mobile group
Dubai's Cityscape Exhibition Kicks Off Amid Oversupply Concerns
Business & Finance Club - Dubai: Re-branded from Cityscape Dubai to Cityscape Global, the must-visit real estate exhibition
Jabal Omar Development Company receives SR1.35b funding
Business & Financ Club - JEDDAH: Jabal Omar Development Company (JODC), the leading planner and developer
Dnata set to acquire 100% stake in Alpha

Business & Finance Club - Dubai: Dnata, the Dubai-based airport and travel services company, on Friday announced it will acquire a 100 per cent share of Alpha Flight Group (Alpha) from Milan-based Autogrill.

Alpha is a leading international inflight catering business with a turnover of £360 million (Dh2.3 billion) and employs over 5,800 staff in 11 countries.

It produces more than 120,000 meals per day at 58 airports globally. The acquisition will increase Dnata's international portfolio significantly, with the company's ground handling and catering operations now set to operate in 70 airports in 17 countries.

Long-term strategy

The effective date for the transaction is expected to be by December 31.

"This acquisition reflects Dnata's long-term strategy to expand and develop our international network," said Gary Chapman, President, Dnata.

"Alpha will complement our existing ground handling and catering operations in Dubai and internationally. The company has a very strong and dynamic management team and I am confident that together we can further develop the business, in line with the outstanding service and quality that Dnata is renowned for."

It is Dnata's fifth significant acquisition in the airport services sector in the last four years and consolidates Dnata's position as a significant player in the global industry.


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