Frontier Services Group Limited (SEHK: 00500) said it has executed a non-binding term sheet, with an independent third-party, to buy a 51 percent equity position of a Southern European-based aviation business that expands FSG´s service capabilities in to North African markets.
“Once fully completed, this acquisition will expand our aviation and trans-modal capabilities as a company, while also delivering additional geographic range for our customers,” said Gregg Smith, Chief Executive Officer of FSG.
The transaction follows several other announcements from FSG in 2015 where the company has acquired or otherwise expanded its aviation, trucking and warehousing capabilities on the African continent.
Frontier Services Group provides complete logistics solutions in frontier markets with a particular focus on Africa. Serving sectors across oil and gas, mining and humanitarian relief organizations, FSG is able to support customer´s needs around moving goods, material and people in to, and out of, some of the fastest growing, but more difficult operating environments in a safe, reliable and cost-effective manner.