Private equity fund KKR & Co LP would acquire a stake in a Malaysian helicopter charter firm, said a Reuters report. The fund said that the acquisition of a minority stake in Weststar Aviation Services was seen to be substantial. The transaction was valued USD200.63 million, according to the US fund's statement issued on Thursday.

Weststar Aviation is controlled by Syed Azman Syed Ibrahim, a politically connected business tycoon. The aviation services company is the biggest provider of helicopter services to oil and gas firms in Southeast Asia, said a Reuters report. The report went on saying that the company had a fleet of more than 40 helicopters.

In a statement seen by Reuters ahead of a press conference from head of KKR's Southeast Asian business Ming Lu, "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."