-T / T / +T | Comment(s)

Tuesday, June 26, 2007

Sageview, KKR Buy 70 Percent Stake

Kohlberg Kravis Roberts & Co. (KKR) and Sageview Capital LLC agreed to buy a 70 percent stake in ACE Aviation Holdings, Inc.’s aircraft maintenance unit, as the owner of Canada’s biggest airline spares assets. The purchase put an enterprise value of $910 million for Air Canada Technical Services. Financial terms were not disclosed.  ACE Chief Executive Officer Robert Milton said he is selling ACE’s holdings in its aviation units and loyalty-rewards program Aeroplan LP, and has said he will eliminate ACE if it benefits shareholders. For Related News
blog comments powered by Disqus