KUALA LUMPUR Oct 10 KKR & Co LP will
buy a "substantial minority" stake in Malaysian helicopter
charter firm Weststar Aviation Services for 642 million ringgit
($200.63 million), the U.S. private equity company said in a
statement on Thursday.
Weststar, controlled by politically connected tycoon Syed
Azman Syed Ibrahim, is the largest provider of helicopter
services to oil and gas companies in Southeast Asia, with a
fleet of more than 40 helicopters.
"We believe trends in the oil and gas sector in Malaysia and
the broader region are long term positive, and we look forward
to supporting the company in its ambitious growth and expansion
plans," said Ming Lu, head of KKR's Southeast Asian business, in
a statement seen by Reuters ahead of a press conference.