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The Weststar Group (“Weststar Group”), a highly diversified enterprise with businesses in the aviation, automobile, property and insurance sectors, today announced that it has acquired the remaining 21% stake in Weststar Aviation Services Sdn Bhd (“Weststar Aviation” or the “Company”), a leading provider of offshore helicopter transportation services from funds managed by global investment firm KKR, which had acquired a 40% stake in Weststar Aviation back in 2013. With the completion of this transaction, Weststar Group is the sole shareholder of Weststar Aviation.
Under the leadership of Weststar Aviation’s Chairman and Founder, Tan Sri Syed Azman Ibrahim, Weststar Aviation has grown from strength to strength. This includes expanding the Company’s helicopter fleet to 34, making it the largest helicopter operator in Malaysia and Southeast Asia by fleet size. Weststar Aviation also entered into new markets such as Africa, Vietnam, and the Middle East, and added new service areas in the public and sustainable energy sectors. It has maintained a 14-year accident-free track record since 2009.
Tan Sri Syed Azman Syed Ibrahim said, “This is a milestone moment for all of us at Weststar. We are grateful for KKR’s support over the years, during which Weststar Aviation expanded internationally serving blue-chip energy clients and enhanced our capabilities.”
Commenting on the transaction, Henry Kravis, Co-Executive Chairman, KKR, said “We take pride in our relationship with Weststar Aviation and Tan Sri Syed Azman Ibrahim, and our role in the evolution of the company, which is today very well-positioned for the future. On behalf of KKR, we wish the Weststar team continued success.”