KKR Invests in Weststar Aviation Services

  KKR Invests in Weststar Aviation Services

           KKR’s First Deal in Malaysia; Investment to Fuel Growth

Business Wire

KUALA LUMPUR, Malaysia & SINGAPORE -- October 9, 2013

Weststar Aviation Services Sdn Bhd (“Weststar” or the “Company”) today
announced that KKR, a leading global investment firm with more than US$83.5
billion in assets under management, has invested approximately RM642 million
(US$200 million) for a substantial minority equity stake in the Company. This
will be KKR’s first investment in Malaysia. Additional terms of the
transaction were not disclosed.

Founded in 2003, Weststar is a leading provider of offshore helicopter
transportation services to the oil and gas industry. With a large and modern
fleet of world-class helicopters and a stable of blue chip oil and gas
companies as customers, Weststar focuses on providing quality offshore
helicopter services and is the largest of such providers in Southeast Asia. In
seeking to provide the highest standard of engineering, flight safety and
reliable operations, Weststar provides personalized and efficient services by
adopting sound planning processes, utilizing state of the art aircraft,
systems and equipment.

“KKR has significant experience investing in the offshore aviation sector in
Avincis Group and has a strong and experienced regional team in Southeast
Asia. With KKR, we have a value-added partner who shares our vision of growing
the Company into one of the world’s leading offshore helicopter services
companies,” said Tan Sri Syed Azman Syed Ibrahim, Weststar Group Managing

“Established in Malaysia, Weststar has fast become a key player in the
offshore aviation industry in this region. This partnership will enable
Weststar to expand its reach overseas and to continue to set a new benchmark
for quality in global offshore aviation,” he added.

Ming Lu, Member of KKR and Regional Head of Southeast Asia, commented, “We are
very pleased to partner with a high-performing company such as Weststar. We
believe trends in the oil and gas sector in Malaysia and the broader region
are long-term positive, and we look forward to supporting the Company in its
ambitious growth and expansion plans.”

“Malaysia is a key target market for KKR,” added Mr. Lu. “In our opinion it
has differentiated demographics with a young and growing population, has its
own natural resources, has a strong banking system with a relatively balanced
economy, and strong opportunities for growth and productivity.”

KKR has a long track record of success in Southeast Asia, having invested
nearly US$1.5 billion in companies based in this region since 2005. KKR’s
investment in Weststar represents its first investment from the KKR Asian Fund
II, the recently-closed US$6 billion fund dedicated to pan-Asian private
equity transactions.

About Weststar Aviation Services Sdn Bhd:

Weststar Aviation Services Sdn Bhd, a Malaysian based company which provides
offshore helicopter transportation services to the oil and gas industry, has
already made its regional presence strongly felt, having become the largest
provider for such services in South-East Asia. Our oil & gas clients include
Petronas Carigali, Exxonmobil, Carigali Hess, CPOC, Talisman, Petrofac,
Newfield, TOTAL, KPOC, Lundin, Schlumberger, HESS, Shell, Tullow Oil, Mubadala
Petroleum, CGG Veritas and Conoco Philips. At present, Weststar Aviation
Services own a fleet of Sikorsky and AgustaWestland helicopters used
exclusively to provide offshore support services for multinational oil and gas

About KKR:

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading
global investment firm with US$83.5 billion in assets under management as of
June 30, 2013. With offices around the world, KKR manages assets through a
variety of investment funds and accounts covering multiple asset classes. KKR
has seven offices across Asia Pacific, with its Southeast Asia regional
headquarters based in Singapore. It has invested nearly US$1.5 billion in the
region, including in Indonesia, Malaysia, Singapore and Vietnam.

KKR seeks to create value by bringing operational expertise to its portfolio
companies and through active oversight and monitoring of its investments. KKR
complements its investment expertise and strengthens interactions with fund
investors through its client relationships and capital markets platform. KKR &
Co L.P. is publicly traded on the New York Stock Exchange (NYSE:KKR), and
"KKR," as used in this release, includes its subsidiaries, their managed
investment funds and accounts, and/or their affiliated investment vehicles, as


Weststar Group of Companies
Muhaini Mahmud
Director, Corporate Affairs
Steven R. Okun, +65-6922-5800
Kristi Huller, +1-212-230-9722
Hill+Knowlton Strategies (for KKR)
Chan Kwai Seng, +852 2894 6314
S. Sivaraman, +60 3 2026 0899
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