SINGAPORE Airport Terminal Services (Sats), which is planning a takeover of Singapore Food Industries, expects the acquisition to generate annual pre-tax savings of up to $15.5 million.
The exercise will also cost the ground handling and catering arm of Singapore Airlines a one-off restructuring expense of $8.5 million.
Apart from the cost savings, the proposed deal aims to help Sats boost its non-aviation portfolio, the company said in a circular to shareholders on Tuesday.
