According to The Portugal News, British company Menzies Aviation has concluded the acquisition of a 50.1% stake in Groundforce Portugal, becoming the largest shareholder of the Portuguese ground handling services company, securing a 65% market share.
“The successful completion of this transaction, more than 12 months after the agreement was first announced in March 2023, constitutes a significant milestone in the recovery and revitalisation of the ground handling company, with impact across the entire national economy”, says Menzies Aviation in a statement.
“The successful completion of this transaction, more than 12 months after the agreement was first announced in March 2023, constitutes a significant milestone in the recovery and revitalisation of the ground handling company, with impact across the entire national economy”, says Menzies Aviation in a statement.
The Groundforce Portugal brand will disappear, as it becomes part of “the largest aviation services company in the world, with 45,000 employees and operations in more than 290 locations in more than 65 countries, on six continents”.
