Acquisitions in Kuwait

Macquarie AirFinance agreed to acquire an aircraft portfolio from ALAFCO Aviation Lease and Finance Company K.S.C.P. for $2.2 billion. The acquisition is being supported by Macquarie Asset Management, PGGM Infrastructure Fund and Australian Retirement Trust through up to $600 million of new equity, alongside a $1.65 billion acquisition facility underwritten by BNP Paribas, Citibank, MUFG Bank and Natixis. The portfolio includes 53 commercial passenger aircraft and an order for 20 Boeing 737 MAX aircraft, with completion expected in 2023 subject to customary closing conditions.

DSV Panalpina A/S (DSV) signed an agreement to acquire 100% of Agility’s Global Integrated Logistics (GIL) business in an all-share transaction. The deal implies an equity value of about USD 4.1 billion (enterprise value about USD 4.2 billion) and is expected to close in the third quarter of 2021. Upon closing, Agility will become DSV’s second-largest shareholder with an approximately 8% stake.

Investcorp-backed NDT Corrosion Control Services Co. (NDT CCS) announced the acquisition of International Inspection Center Co. (Intrex), Kuwait’s largest provider of industrial non-destructive testing and inspection services. The deal expands NDT CCS’s presence in Kuwait and strengthens its technician base and client coverage across the GCC. Investcorp previously acquired a majority stake in NDT CCS in July 2015 from Al Shuwayer Group.