Marina Bay Cruise Centre operator SATS plans to acquire Singapore Cruise Centre, in an effort to further utilise resources and streamline operations.
SATS Airport Services and SATS-Creuers Cruise Services have entered a share purchase agreement to buy over the terminal operator for S$110 million from current owners Temasek, Singapore Business Review reported.
“The combined entity can leverage our regional airport presence to facilitate and provide a seamless travel experience for fly-cruise passengers,” SATS president and chief executive Tan Chuan Lye said.
“This will bolster Singapore’s position as an attractive regional cruise hub and homeport for cruise lines which in turn will benefit the economy.”
The transactions aims to improve efficiencies, better utilise berths and other resources, making Singapore more attractive as a potential regional homeport.
SATS also plans to extend its cruise-fly and fly-cruise products to Singapore Cruise Centre for seamless transfers to Singapore Changi Airport.
The transaction is subject to regulatory approvals from the Maritime and Port Authority of Singapore and the Competition Commission of Singapore (CCS).