The Firm represents Spanish-based Ferrovial Group in its acquisition of Swissport International, the world's leading independent passenger and cargo handling operator, from Candover, a European private equity company. Swissport operates at over 170 airports in 40 countries, and provides passenger and ramp services (ground handling) and cargo handling, and other airport services such as fueling, security and executive aviation services.
The transaction is expected to be completed by the end of September, subject to competition and regulatory approval, and other customary conditions. The transaction values Swissport at EUR646 million. Ferrovial will pay EUR336 million for the shares in the Swiss company and will assume its debt, which amounted to EUR310 million in December 2004.
Ferrovial is one of Europe's leading infrastructures groups, and a specialist in the design, construction, financing, maintenance and management of transport, urban and services infrastructure.
The Simpson Thacher team includes Todd Crider in New York and Harald Zeiter and Jed Weiner in London (Corporate), Joe Tringali (Anti-Trust), Susan Kaufman (Employee Benefits) and Adeeb Fadil (Environmental).