SATS Said in Talks to Buy $3 Billion Worldwide Flight Services

SATS is in talks to buy Worldwide Flight Services from its private equity owner for as much as $3 billion, according to people with knowledge of the matter.

People who asked not to be identified as the information is private said that the company in Singapore sounded out financing for the purchase. One of the people said that an announcement could come as soon as in the coming weeks.

The people said that there could still be changes. Representatives for SATS didn't respond to questions.

According to its website, Worldwide Flight Services is the largest air cargo handler in over 20 countries. The company provides a variety of services to airlines. Its annual sales were over one billion dollars. Platinum Equity sold the French firm to Cerberus for over one billion dollars.

There is a wave of acquisitions betting on the rising demand for logistics services. PSA International agreed to buy BDP International from Greenbriar Equity Group.

With the assistance of the two people.