KKR to buy minority stake in Malaysian helicopter services firm Weststar
KUALA LUMPUR/HONG KONG
KUALA LUMPUR/HONG KONG Oct 9 (Reuters) - KKR & Co will buy a minority stake in Weststar Aviation Services in a deal that gives the U.S. private equity firm its first deal in Malaysia and a piece of a company that arranges helicopter charter flights for the region's energy sector.
KKR said in a statement that the two companies will take part in a signing ceremony on Thursday, though the firm did not disclose the price it is paying. People familiar with the matter said KKR will pay around 650 million ringgit ($203.41 million).
KKR and Weststar declined to comment on the size of the transaction.
The deal would be KKR's fourth investment in the Asia-Pacific announced in the last three weeks, after recently raising $6 billion in the region's biggest buyout fund.
Privately owned Weststar Aviation is controlled by Malaysian tycoon Syed Azman Syed Ibrahim.
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