Macquarie Infrastructure Corp (MIC) said late on Monday it signed a deal to sell its MIC Hawaii unit to an affiliate of investment manager Argo Infrastructure Partners.

The development comes a week after MIC announced plans to sell its private aviation services network Atlantic Aviation.

“The terms of the merger agreement correspond to an enterprise value for MIC Hawaii of $514 million including assumed debt and transaction costs”, MIC said in a statement.

Read more/Source: Reuters