Air Canada parent sells majority interest in MRO subsidiary

ACE Aviation Holdings, parent of Air Canada, agreed to sell a 70% interest in its wholly owned maintenance, repair and overhaul subsidiary ACTS to an investment consortium that includes Sageview Capital and KKR Private Equity Investors in a transaction valuing ACTS at approximately C$975 million ($912.2 million). ACE will retain 30% and Air Canada will remain ACTS' largest customer. "This transaction is an important step in ACE's strategy of unlocking the value in all of our businesses," ...