WASHINGTON (dpa-AFX) - Investment firm KKR & Co. Inc. (KKR) announced on Monday that it has agreed to sell Infinity Transportation, a railcar and intermodal equipment lessor, to funds managed by Ares Management Corp. (ARES) for an enterprise value of about $2.9 billion.
Ares said it plans to support Infinity's management team, fleet growth and customer relationships across North America.
The transaction is expected to close in the first quarter of 2027.
Macquarie Capital is serving as financial advisor and Simpson Thacher & Bartlett LLP as legal counsel to KKR. Citi is serving as financial advisor and Kirkland & Ellis LLP as legal counsel to Ares.
In pre-market activity on the NYSE, shares of KKR were up 0.34 percent, changing hands at $86.52, after closing Friday's regular session 1.62 percent lower.
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