THE CARLYLE GROUP INC.

(CG)
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Delayed Nasdaq  -  05/27 04:00:00 pm EDT
39.60 USD   +2.64%
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Carlyle Group Consortium to Buy 125 Aircraft From CK Asset for $4.28 Billion

12/23/2021 | 07:50pm EDT

By P.R. Venkat

A consortium involving private equity firm Carlyle Group and Canada Pension Plan Investment Board is acquiring 125 aircraft from CK Asset Holdings Ltd. for $4.28 billion.

CK Asset said that the Covid-19 pandemic has caused a paradigm shift in the aircraft leasing industry and that the risk and return dynamics had become volatile and unpredictable.

"Following an internal consolidation of the group's aircraft leasing business, the group considered it an opportune time to exit the aircraft leasing sector and enhance its strategic focus during the pandemic," it said.

The sale will allow the company to unlock the underlying value of its aircraft portfolio and provide the group with the ability to reallocate capital to other investment opportunities, it said.

The Hong Kong-listed company expects to record a divestment gain of 170 million U.S. dollars.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

12-23-21 1950ET

Stocks mentioned in the article
ChangeLast1st jan.
CK ASSET HOLDINGS LIMITED 0.87% 52.25 Delayed Quote.5.39%
THE CARLYLE GROUP INC. 2.64% 39.6 Delayed Quote.-29.73%
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Financials (USD)
Sales 2022 4 167 M - -
Net income 2022 1 502 M - -
Net cash 2022 5 415 M - -
P/E ratio 2022 9,38x
Yield 2022 3,26%
Capitalization 14 322 M 14 322 M -
EV / Sales 2022 2,14x
EV / Sales 2023 1,40x
Nbr of Employees 1 850
Free-Float 65,4%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 39,60 $
Average target price 62,85 $
Spread / Average Target 58,7%
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Managers and Directors
Kewsong Lee Chief Executive Officer & Director
Curtis L. Buser Chief Financial Officer
William E. Conway Non-Executive Co-Chairman
David M. Rubenstein Non-Executive Co-Chairman
Michael Haas Chief Information Officer
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