Announces Pending Investment in Malta-based Maleth Group, an Aviation Services Company Linking North and West African Markets to Europe and Asia
Frontier Services Group Limited ("FSG") (SEHK: 00500), a publicly listed company that delivers bespoke supply chains and complete transportation and logistics solutions, today announced that it has entered into definitive investment agreements to acquire a major stake in Maleth Group ("Maleth"), an aviation services business based on the southern European island nation of Malta. The addition of Maleth to the platform will enhance FSG's ability to link routes from north and west Africa to Asia, Europe, and beyond.
Maleth provides a broad scope of aviation management services, including the management of aircraft flight and cargo operations, the staffing of qualified pilots and crews, and the provision of maintenance and insurance. Maleth also fulfills the charter and regulatory service requirements of owners and operators of private and commercial aircraft registered throughout the world.
"We are delighted by the prospect of joining the FSG family of companies," said Michael O'Brien, founder and CEO of Maleth. "We look forward to growing our combined business by providing new commercial routing options and a range of complementary services to FSG's diverse base of customers operating throughout north and west Africa," he continued.
"This investment will further expand our company's growing trans-modal capabilities, while also delivering additional geographic range and new aviation services for our customers," said Gregg Smith, CEO of FSG. "This is an important step toward our goal of creating a truly continent-wide network of transportation and logistics solutions," he said.
The pending transaction follows several other announcements from FSG in 2015 where the company has acquired or otherwise expanded through strategic investment its aviation, trucking and warehousing capabilities across the African continent.
Following completion of the investment, Mr. O'Brien will remain as CEO of Maleth and will assume a broader set of management responsibilities for FSG moving forward.
About Frontier Services Group:
Frontier Services Group Limited ("FSG") (SEHK: 00500) is a publicly listed company on the Hong Kong Stock Exchange with operational headquarters in Johannesburg, South Africa, and Nairobi, Kenya. FSG delivers reliable, customized supply chains and a complete transportation and logistics solution for our customers doing business on the African continent. We are helping newer markets expand and we move the people, goods, and materials that are accelerating Africa's economic growth. Our portfolio of aviation, trucking, and warehousing businesses are led by professionals with decades of experience delivering the things our clients depend on anywhere and everywhere in Africa.
For Further Information Please Visit:
www.FSGroup.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20160215005685/en/
Contacts:
Frontier Services Group Limited
Media Inquiries:
CT Hew, +852 9132 8828
ct.hew@hewassociates.com
