Baring Asia exits Indonesian aviation services provider
Baring Private Equity Asia has sold its 41.65% stake in air freight and passenger services provider Cardig Aero Services (CAS) to Singapore Airport Terminal Services (SATS) for IDR1.1 billion ($93.5 million). The PE firm invested approximately $41 million in CAS in December 2011.
CAS is a leading food solutions and services provider in Indonesia with a presence at 17 airports nationwide. It provides airfreight handling, ramp handling and passenger services, as well as aircraft...
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