Kuwait-based operator National Aviation Services (NAS) was selected for the final phase of the sale process of Alfredo Casimiro’s majority stake in Groundforce. The information was confirmed by The Observer with a source familiar with the operation.
This phase corresponds to the exclusive negotiation with NAS for the sale of the 50.1% that belonged to the businessman through Pasogal, but the sale operation may include 49.9% of TAP. The sale of the handling company (handling on the ground) was one of the antitrust remedies imposed by the European Commission to authorize public aid to the airline.
Behind were two other competitors, Zurich-based Swissport and Belgian Aviport. The sale of Groundforce is being led by the bankruptcy administrators, but is accompanied by the aviation company. Groundforce was declared insolvent a year ago following a request from TAP, which is also one of the manipulation company’s largest creditors.
However, the operation may depend on the legal challenge of the bankruptcy presented by the owner of Pasogal, Alfredo Casimiro.
According to the NSA institutional website, the company is a rapidly growing provider of aviation services in emerging markets, being the largest operator in Africa, with a presence at 55 airports in more than 20 countries, including Kuwait, India, Uganda, Kenya, Morocco, South Africa, Rwanda, Iraq, and the United Arab Emirates. The group employs around 10,000 people and operates in the areas of handling, logistics and cargo.
Source: Observadora
