Bidvest subsidiary BidAir completes sale to Middle Eastern company with local BEE partner

25 Jun

Bidvest subsidiary BidAir completes sale to Middle Eastern company with local BEE partner Carin Smith 0:00 Subscribers can listen to this article Colossal Africa's part in the deal ensures local shareholding. (Getty Images)

Employees of BidAir Services were told on Friday that they are now officially employees of NAS Colossal Aviation Services.

According to its website, BidAir Services is a subsidiary of the BIDVest Group. It was formed in 2005 and provides ground handling services to more than 25 international and domestic airlines flying into South Africa.

In a letter to employees, seen by Fin24, BidAir CEO Bushy Mbele indicates that discussions about a potential sale of the company already started at the end of 2020.

"We are pleased to inform you that the sale agreement has been reached and signed by all parties and the acquisition is now complete. This move was made in the best interest of all parties concerned and we will surely benefit with the experience, expertise and direction of these two organisations," says Mbele.

National Aviation Services (NAS) is headquartered in Kuwait and has a presence in 50 airports across the Middle East, Africa and South Asia. Its portfolio of services includes ramp and passenger services, cargo handling, engineering services and line maintenance, lounge management (Pearl Assist), aviation training and travel solutions.

Colossal Africa's part in the deal ensures local shareholding. It is a 100% black- and women-owned South African company with a strategic focus on aviation and infrastructure.

"Through Colossal Africa, the group aims to contribute towards the sustainability of the air transport system on the African continent," Mbele says in the letter to employees.

"As we transition to the new company identity, we remain committed to ensuring there is no disruption to employees or customers and look forward to your ongoing cooperation."

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