Servair sale sees Newrest emerge in poll
French catering group Newrest is the favourite to take over Servair, the onboard catering operation due to be sold by French Dutch carrier Air France KLM, according to a French language weekly. Le Journal du Dimanche reported that Newrest is favoured over competing Austrian Do & Co and Gategroup of Switzerland.
An unidentified Servair union official told the JDD that the two players have much in common but working conditions diverge. Newrest operates both in the inflight meal sector and in airport concessions and the report noted it would promote growth at Servair.
Earlier mooted suitor Gategroup is itself in the throes of a restructuring process and recently acquired Inflight Service for more than EUR 200m. As to Do & Co, the paper dubbed it an outsider.
The report said Newrest had looked at Servair and then opted against a bid. Now, however, it is looking again but will not buy in at a price that is exorbitant. Reports have tagged a EUR 500m price tag on Servair. The name of the party granted exclusivity should be made public soon.
Journal du Dimanche