June 7 (Reuters) - Macquarie Infrastructure Corp
said on Monday it plans to sell its private aviation services
network Atlantic Aviation to private-equity firm KKR & Co Inc
for $4.48 billion.
Atlantic Aviation operates one of the largest networks of
fixed base operations in the United States.
Fixed-base operators, or FBOs, provide services ranging from
hangars to fueling, and have been drawing investor interest as
private jet traffic rebounds in the United States.
The deal, which includes debt, is expected to close in the
fourth quarter. Macquarie Infrastructure's board is expected to
authorize a cash distribution of about $37.35 per unit after the
Reuters previously reported the news on Sunday citing a
source familiar with the matter.
Lazard and Evercore acted as financial advisers to
Macquarie, while Jefferies LLC advised KKR.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shounak