KKR pays $200 mln for a stake in Malaysia's Weststar Aviation

Reuters

KUALA LUMPUR, Oct 10 (Reuters) - KKR & Co LP willbuy a "substantial minority" stake in Malaysian helicoptercharter firm Weststar Aviation Services for 642 million ringgit($200.63 million), the U.S. private equity company said in astatement on Thursday.

Weststar, controlled by politically connected tycoon SyedAzman Syed Ibrahim, is the largest provider of helicopterservices to oil and gas companies in Southeast Asia, with afleet of more than 40 helicopters.

"We believe trends in the oil and gas sector in Malaysia andthe broader region are long term positive, and we look forwardto supporting the company in its ambitious growth and expansionplans," said Ming Lu, head of KKR's Southeast Asian business, ina statement seen by Reuters ahead of a press conference.

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