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Platinum Equity – Sale of Worldwide Flight Services

Los Angeles-based PE firm Platinum Equity Partners has agreed to sell Worldwide Flight Services to Cerberus Capital Management for €1.2bn (further financial details have not been disclosed). Platinum picked up the company in 2015 and has since seen it become the world’s largest air cargo handler, with annual revenues of more than €1.2bn. The business also provides ground handling and technical services.