What is Sapura Resources Bhd selling to Royal Jet LLC?

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Sapura Resources Bhd is selling its entire stakes in two wholly-owned subsidiaries, Sapura Aero Sdn Bhd and DNEST Aviation Sdn Bhd, to Royal Jet LLC.

Sapura Resources Bhd has entered into a non-binding conditional Heads of Agreement to dispose of ordinary shares in its two wholly-owned subsidiaries to Royal Jet LLC. The transaction involves the sale of 37.50 million ordinary shares, representing the entire issued share capital in Sapura Aero Sdn Bhd, and 42.45 million ordinary shares in DNEST Aviation Sdn Bhd.
Disposal of Sapura Aero Sdn Bhd Shares

The agreement includes the disposal of all 37.50 million ordinary shares in Sapura Aero Sdn Bhd, which constitutes the full issued share capital of this subsidiary. This move signifies a complete divestment of Sapura Resources Bhd's ownership in Sapura Aero Sdn Bhd.
Disposal of DNEST Aviation Sdn Bhd Shares

Concurrently, Sapura Resources Bhd is also selling 42.45 million ordinary shares in DNEST Aviation Sdn Bhd to Royal Jet LLC. This disposal pertains to a significant portion of Sapura Resources Bhd's holdings in DNEST Aviation Sdn Bhd, as part of the broader agreement.
Royal Jet LLC's Business and Strategic Intentions

Royal Jet LLC, incorporated in the United Arab Emirates, offers a comprehensive range of aviation services including ad-hoc and block charter, VIP aircraft services, aircraft management, brokerage, fixed-base operations, flight support, maintenance, acquisitions, and consulting. The company reportedly intends to establish a significant presence in the Southeast Asian private aviation market. To achieve this, Royal Jet plans to designate Subang Airport as its regional hub for private charters and maintenance, repair, and overhaul (MRO) activities.

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What is Sapura Resources Bhd selling to Royal Jet LLC?

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