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Macquarie Infrastructure to sell unit Atlantic Aviation in $4.5 bln deal

06/07/2021 | 07:35am EDT

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 closing.

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 Dasgupta)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EVERCORE INC. -1.17% 132.55 Delayed Quote.20.90%
KKR & CO. INC. 1.75% 63.54 Delayed Quote.56.93%
LAZARD LTD -1.73% 45.45 Delayed Quote.7.45%
MACQUARIE INFRASTRUCTURE CORPORATION 0.47% 40.23 Delayed Quote.7.14%
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