Saudi Logistics Services Company (SAL) has signed an agreement to acquire a 100% stake in Belgian airport ground handler Aviapartner Liège for 123 million Saudi riyals ($32.8m).
The sale and purchase agreement was signed with Aviapartner Belgium NV and Aviapartner Holding NV. SAL said the transaction will be completed through a cash payment financed from its existing resources.
Strategic move into Europe
The acquisition forms part of SAL’s strategy to expand its international cargo logistics footprint by establishing operations at a major European air freight hub.
Liège Airport is one of Europe’s leading cargo airports and a key gateway for express freight and e-commerce shipments.
SAL said the deal would allow the company to:
- Expand its cargo ground handling and logistics services at international airports
- strengthen its presence in the European air cargo market
- diversify revenue streams geographically.
Expanding global cargo services
The Saudi logistics provider added that the acquisition supports its broader goal of building a global network of cargo handling operations, linking Middle Eastern logistics flows with major freight gateways in Europe.
By integrating Aviapartner Liège into its portfolio, SAL expects to enhance its ability to serve airlines, freight forwarders and logistics providers operating through the Belgian hub.
The transaction remains subject to customary regulatory approvals and closing conditions.