Groupe CRIT announces the Acquisition of Cobalt Ground Solutions

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January, 2nd 2017
07:00 GMT

Group CRIT announces the acquisition of COBALT GROUND SOLUTIONS N°3 in ground handling services at London Heathrow

Group CRIT, through its subsidiary Groupe Europe Handling, announces the acquisition of 100% of Cobalt Ground Solutions, a subsidiary of Air France-KLM and third largest ground handling services provider at London Heathrow airport. This transaction results from the letter of intent whose signing has been released on November 28th 2016.

Founded in 2009 by merging the two ground services subsidiaries of Air France (AFSL) and KLM (KGS), Cobalt Ground Solutions provides full ground handling services (passengers check-in, ticketing, baggage, ramp handling..) on terminals 3 and 4 of London Heathrow Airport. Cobalt Ground Solutions, 3rd largest operator(1) among the 8 providers operating at the airport, provides ground handling services to major international airlines such as Air France-KLM, KLM CityHopper, Aeromexico, China Southern, Delta Airlines, Etihad Airways, Japan Airlines, Jet Airways, Kenya Airways, Korean Airlines, Virgin Atlantic.

With this acquisition, Group CRIT takes position on the 1st European and 6th Airport worldwide (2). London Heathrow Airport welcomes 80 international airlines, 75 million passengers per year and has a potential for significant development with the opening of a third runway by 2025.

Thanks to this operation, the group, leader in France (Roissy CDG, Orly and Nice Côte d'Azur Airports) and already present in 7 countries abroad, enters in the world's top 10 ground handling companies (3). The integration of Cobalt Ground Solutions, to be effective on January 1st, 2017 would bring to the airport division of the Group additional sales over 40 M€.

(1) source London Heathrow
(2) source ACI
(3) source company

The Group CRIT is a leading ground handling services provider in France through its subsidiary Group Europe Handling based on the airports of Roissy, Orly and Nice Côte d'Azur. Through its subsidiaries Sky Handling Partner, the Group occupies strong positions on the airport London City Airport and in Ireland (in Dublin and Shannon). In Africa, the Group operates in Congo, Sierra Leone and provides technical assistance to Gabon and Mali. It operates also in the Dominican Republic. The Group earned the trust of more than 130 airlines thanks to the quality of its services and the expertise of its 3,000 employees.

Groupe CRIT is listed on Euronext Paris (compartment B FR0000036675) and part of CAC All-tradable, ACC All-shares and CAC Mid & Small indices.

CONTACTS:  Groupe CRIT Michèle Chartier Tél : + 33
Actifin : Stéphane Ruiz Relations Presse : : +33

Date Posted: 4th Jan 2017