John Menzies deal fixed
The deal is inked. Agility and John Menzies PLC have reached agreement on the terms of a recommended cash offer for the takeover of 100% of the ordinary shares of the latter. The deal values John Menzies at approximately GBP 571 million (EUR 675 million) on a fully diluted basis and at approximately GBP 763 million (EUR 902 million) on an enterprise value basis.
At this stage, the combined group is expected to be a major airport services company globally. The combined revenues of Menzies and NAS were in excess of USD 1.5 billion in 2021.
The combined group is expected to have approximately 35,000 employees with a presence at more than 250 airports in 57 countries, handling more than 600,000 aircraft turns per year. The combined group will be wholly owned by Agility. If regulatory approval is reached, the transaction is expected to be complete in Q3/2022. (sh)