Brookfield, one of the world’s largest alternative asset managers, recently announced that it had entered into an agreement through its private equity business to acquire air cargo services provider World Freight Company (WFC) from PAI Partners and EQT.
Hogan Lovells and Freshfields advised on the transaction. The deal is expected to close before the end of 2026. According to Reuters, Brookfield will acquire WFC at an enterprise value of about USD1.2 billion.
Hogan Lovells advised Brookfield on the acquisition and related financing matters. The team was jointly led by Shanghai?based partner David Wang, Asia?Pacific managing partner Owen Chen, Paris partner Xavier Doumen, Beijing partner Meka Meng and Paris counsel Bob Zeller.
Freshfields acted for EQT, with the team including Singapore partner Simon Weller, Hong Kong partners Danny Li and Daniel French, and London partner May Smith.
Founded in Paris in 2004, WFC is one of the world’s largest agents for air cargo, providing services to more than 300 airlines across 3,500 trade lanes. The company operates in over 80 countries and along major global trade corridors.
In 2018, French private equity firm PAI Partners and BPEA Private Equity Fund VI, managed by Baring Private Equity Asia (BPEA), acquired WFC, each holding a 50% stake. Sweden?headquartered EQT subsequently acquired BPEA in 2022.
