Ownership Transfer of LSG Sky Chefs España S.A. Closed

 

Neu-Isenburg, Germany/Toulouse, France – The ownership transfer of all shares in LSG Sky Chefs España S.A. (“LSG España”) from LSG/Sky Chefs Europe Holdings Ltd. (“LSG Sky Chefs”) to Newrest Servair, S.L. (“Newrest”) took effect today after the successful completion of the required approval process.

LSG España owns five airline catering facilities and industrial feeding operations at the Madrid, Barcelona, Palma de Majorca, Malaga and Gerona airports. Both companies announced the planned share purchase on November 20, 2007.

While its operations in Spain had not been profitable for LSG Sky Chefs in recent years due to changes in the market environment and the exit of important airline customers, the acquisition represents an important stimulus to Newrest’s activities in the country. 

About LSG Sky Chefs
LSG Sky Chefs is the world’s largest provider of in-flight services. These include airline catering, in-flight equipment and logistics as well as the management of onboard service and in-flight retail. The group is also the industry leading expert in managing the complete in-flight service supply chain for several airlines. LSG Sky Chefs partners with 270 airlines worldwide and operates some 190 customer service centers in 47 countries, producing around 387 million airline meals a year. In 2006, the companies belonging to LSG Sky Chefs Group achieved consolidated revenues of € 2.3 billion.
Media contact: Josefine Corsten, SVP Corporate Communications, Phone +49 6102 5999 120

About NEWREST Group
Newrest Group is a private company based in Palma de Majorca (Spain) with revenues in excess of 400M€ per annum and more than 8.000 employees in 18 countries. Newrest is specialized in „travel related services“ including airline & industrial catering, airport restaurants and bars, support services, remote site services and on board sales of food, beverage and retail goods. The company is majority owned by management, led by its two CEOs, Jonathan Stent-Torriani and Olivier Sadran.
Media contact: Dominique Pilatte, Communication, Phone : + 33 562893979