MacroAsia buys Compass share of Manila unit

Compass Group has sold its 13 percent stake of the MacroAsia-Eurest Catering Services unit at Ninoy Aquino International Airport in Manila leaving two partners operating the unit, reports The Manila Times.

The sale was concluded at the end of June. Partners for the kitchen now are the MacroAsia Corp, an 80 percent owner in the unit and Singapore Air Terminal Services (SATS), which has a 20 percent stake, reports the Times.

MacroAsia Eurest was Compass Group’s only unit in Asia. In addition to several charter flights, the unit has 15 scheduled airline customers. The unit generates approximately 5 billion pesos (US$94 million) in annual sales. MacroAsia also owns a 40 percent stake in Cebu Pacific Catering Services, the only unit in the city of Cebu.

MacroAsia has been a big investor in the airport. It works with Lufthansa Technik in the Philippines on overhaul and maintenance and works in airport ecozone operations, ground handling and helicopter charter service.