DNATA expands its footprint in Italy with a strategic investment in Milan’s Airport Handling SPA

DUBAI, 30th September, 2015 (WAM) -- DNATA, an Air Travel Service provider, has expanded its footprint in Italy with a strategic investment after reaching an agreement to acquire a 30% share in Milan-based ground handler, Airport Handling SPA. DNATA will also have majority representation on the board through which it will control day-to-day operations. It will also have a call option to acquire a further 40% share. Airport Handling, which was founded in 2014 and has 1,800 employees, operates passenger and ramp services at Milan’s two major airports, Malpensa (MXP) and Linate (LIN). DNATA's investment in Airport Handling underscores its broader vision and commitment to the Italian market, where DNATA already operates catering facilities at 22 airports. "We continue to grow DNATA’s international operations where we find the right opportunities and the right partners. Any acquisition or partnership that we enter has to add value to our business, customers and stakeholders. Airport Handling’s operations tick those boxes for DNATA," said Stewart Angus, DNATA’s Divisional Senior Vice President of International Airport Operations. "DNATA is an established international player in airport and ground handling services. Tapping on DNATA’s expertise, the Airport Handling team looks forward to further strengthening the quality of services that we already offer in Milan’s airports and our prospects for both short and long term," said John Stewart, CEO of Airport Handling. Tiziano Treu, Chairman of the Trustee, Crowe Horwath Trustee Services, It., added "The value of the transaction confirms the current equity value of Airport Handling" Under the agreement with DNATA, Airport Handling will retain its current name. Employee terms will also be unaffected. This transaction is subject to competition approval by Italian authorities and the European Union, which is expected to be achieved by the end of November this year. – Emirates News Agency, WAM -http://www.wam.ae/en/news/emirates/1395286117356.html