KKR to Sell Railcar Lessor Infinity to Ares for $2.9 Billion

Private equity firm KKR has agreed to sell railcar-leasing company Infinity Transportation to funds managed by Ares Management for approximately $2.9 billion, Investing.com and MarketScreener reported.

Infinity specializes in leasing freight railcars and transportation equipment. According to the reports, the transaction transfers control of the business to Ares-managed funds, while KKR divests its holding in the firm.

Further details regarding the expected timeline for closing the deal and its full financial terms have not yet been released.