Apollo Said to Near $10 Billion Deal for KKR’s Atlantic Aviation

Apollo Global Management Inc. is nearing a deal to acquire Atlantic Aviation from rival KKR & Co. in a transaction that would value the private jet fixed-base operator at almost $10 billion, people familiar with the matter said.

Apollo is teaming up with Singaporean sovereign wealth fund GIC Pte to buy a majority stake in the company, while KKR will invest new money to retain a large interest, the people said.

A deal could be announced as soon as next week barring any last-minute snags, the people said, asking not to be identified discussing confidential information. KKR could still decide ...