Cape Verde's state air navigation and airports concessionaire Aeroportos e Segurança Aérea (ASA) has completed the sale of a 51% stake in ground-handling company CV Handling to Swiss cargo and ground services group Swissport, with plans to offer up to 10% of the capital through a public share offering targeting employees and Cape Verdean emigrants, ASA announced on Thursday, 13 August.
"With the completion of this transaction, the process of selecting a strategic partner for CV Handling has been successfully concluded, as has the divestiture procedure initiated in 2024," ASA said in a statement.
The transaction gives Swissport a majority shareholding in CV Handling.
ASA said the entry of the Swiss company would allow CV Handling to benefit from international expertise and strengthen its technical and operational capabilities. The concessionaire added that the partnership provides for the preservation of existing jobs and an enhancement of professional training.
The planned investment includes the modernisation of infrastructure, the introduction of technology solutions, and the development of Cape Verdean workers.
The privatisation also encompasses a public share offering directed at CV Handling employees and Cape Verdean emigrants, covering up to 10% of the company's capital. "Up to 5% of the capital will be reserved for workers and a minimum of 5% for Cape Verdean emigrants," ASA added.
The conclusion of the deal follows the Cape Verdean government's announcement in March that Swissport had been selected to acquire the majority position in the state-owned company as part of the privatisation process.
At the time, the government indicated that the Swiss firm had been chosen after presenting a plan that provided for the retention of jobs and a commitment to upgrading human resources.
Founded in 2014, CV Handling is the only operator licensed to provide ground-handling services at Cape Verde's airports and employs 498 workers.
Swissport operates at 300 airports across 45 countries and serves approximately 250 million passengers annually, in addition to handling more than five million tonnes of air cargo.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=530514
