Bloomberg News

SATS Enters Discussions Over Potential Sale of Daniels Group

September 30, 2011

Sept. 30 (Bloomberg) -- SATS Ltd., an airline services provider at Singapore Changi airport, said today it is in talks over the potential sale of Daniels Group, the owner of British food brands including New Covent Garden Food Company.

“Discussions are presently at a stage where there is no certainty that a definitive agreement may be arrived at and no transaction may materialise from these discussions,” the company said today in a statement to the Singapore stock exchange. If the sale does not proceed the Daniels Group will remain part of SATS, according to the statement.

HSBC Holdings Plc has been appointed to run the auction for about 150 million pounds ($234 million), Sky News said today on its website.

--Editors: Tim Farrand, Peter Woodifield

To contact the reporter for this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge in London at Ckeatinge@bloomberg.net


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