Carlyle Group Consortium to Buy 125 Aircraft From CK Asset for $4.28 Billion
December 23 2021 - 8:05PM
Dow Jones News
By P.R. Venkat
A consortium involving private equity firm Carlyle Group and
Canada Pension Plan Investment Board is acquiring 125 aircraft from
CK Asset Holdings Ltd. for $4.28 billion.
CK Asset said that the Covid-19 pandemic has caused a paradigm
shift in the aircraft leasing industry and that the risk and return
dynamics had become volatile and unpredictable.
"Following an internal consolidation of the group's aircraft
leasing business, the group considered it an opportune time to exit
the aircraft leasing sector and enhance its strategic focus during
the pandemic," it said.
The sale will allow the company to unlock the underlying value
of its aircraft portfolio and provide the group with the ability to
reallocate capital to other investment opportunities, it said.
The Hong Kong-listed company expects to record a divestment gain
of 170 million U.S. dollars.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
December 23, 2021 19:50 ET (00:50 GMT)
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