SAS Group sells Newco to Teinver

The SAS Group has today agreed to sell its 55% holding in the Spanish ground handling company Newco Airport Services to Teinver. Teinver holds 100% of Newco after the transaction. The transaction value and positive effect on net debt and cash for the SAS Group amount to MSEK 400. The equity value is MSEK 320. The capital gain amounts to approximately MSEK 170.

"The divestment is a part of Strategy 2011 launched in June and this is the first part to be completed. We are confident that the new majority owner will continue to develop the business in a growing Spanish market", says Mats Jansson, SAS Group President & CEO.