Air Works India completes EAG stake deal

Dubai: The stake buyout transaction by Air Works India Engineering Pvt Ltd in Empire Aviation Group (EAG) has been successfully completed, EAG’s financial advisor for the deal, Alpen Capital (ME) Ltd has said.
Air Works India, which provides aviation services, was reported to have bought stake in Dubai-based EAG for Rs 120 crore.
The strategic investment was done through Air Works’ UK-based subsidiary Air Works UK Engineering Ltd and was financed by a structured debt from a consortium of lenders led by KKR Capital Markets India Pvt Ltd, Alpen Capital said in a statement yesterday.
“Alpen Capital is delighted to announce the successful closure of this complex M&A transaction, where Alpen Capital acted as the sole financial advisor representing the sellers,” the Alpen Capital’s MD, Mr Sanjay Vig said.
“The GCC-India corridor has a lot of potential and with our presence and expertise in both these markets, we feel we are well equipped to advise clients on such cross border deals,” Mr Vig said.
27/06/12 PTI/Business Line

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Categories: Foreign Jun 2012, Indian Aviation- In General Jun 2012, New Jun 2012