Agility-backed NAS to acquire the remaining 81% stake in John Menzies for $810m.

Agility-backed NAS, an aviation services provider headquartered in Kuwait City, agreed to acquire the remaining 81% stake in John Menzies, an aviation services business providing ground handling, cargo handling, cargo forwarding and into-plane fuelling, for $810m. "This deal creates a world leader in airport services and unlocks value for all stakeholders. The NAS-Menzies combination brings together highly complementary operations and ensures that the combined business has the scale and resources to grow. Menzies shareholders will realize a premium in return for supporting the transaction. Customers will benefit from Menzies' operational excellence at more airports around the world and will be able to choose from a broader product offering. Employees of both companies will benefit from being part of a larger, stronger group that offers more career development and advancement opportunities. The combined business will have the capital to invest in the talent, technology, innovation, infrastructure, equipment, and sustainability leadership required to accelerate growth," Hassan El-Houry, NAS CEO.