SAL Saudi Logistics Services Co. has settled on a deal to purchase Belgium-based Aviapartner Liege SA at €28 million ($30.3 million), providing the Saudi logistics company a base at one of the major air cargo hubs in Europe.
According to a filing on the Saudi Exchange, SAL will purchase 100 percent of the company’s share capital on a cash-free, debt-free basis under a sale and purchase agreement signed with Aviapartner Belgium NV and Aviapartner Holding NV.
The acquisition provides SAL with a complete operational base in Liege Airport in Belgium, one of the major cargo hubs in Europe, and will aid in the long-term growth plan of the company.
SAL offers cargo handling and logistic services at Saudi airports and has been diversifying its service offering as the Kingdom invests more in the aviation and supply-chain infrastructure as part of Vision 2030.
In the Tadawul filing, the company, said, “This acquisition supports SAL’s international expansion strategy by establishing an operational footprint at a key European cargo hub, expanding its cargo ground handling and logistics service offerings at international airports, geographically diversifying its revenue streams, and leveraging operational synergies through access to established infrastructure, airline relationships, and a mature operating environment.”
The agreement is also strategically important as Liege Airport has become one of the most significant air cargo centers in Europe and a fast-growing entry point into international freight flows.
The fifth European cargo airport in terms of size is the Belgian airport, which has been experiencing tremendous growth over the past years, with volumes of over 1.3 tonnes recorded in 2025 as the airport has handled over 14 percent in terms of growth year-on-year.
The transaction will be funded using the cash reserves of the company, and the company is subject to customary closing conditions and regulatory approvals.
Aviapartner Liege is headquartered in Liege, Belgium, and it is the main provider of ground handling and cargo services. In terms of financial disclosure, Aviapartner Liege has recorded revenues of €24.7 million in 2023, followed by an increase to €28.6 million in 2024 before declining to €24.3 million in 2025.
SAL stated it believes that the long-term effect of the transaction would be positive on its financial performance after the acquisition firm’s financial results are consolidated and incorporated.
The company further stated that there were no related parties to the transaction, which was signed on March 4.
