Viking Investments Inc. is shutting its U.S. operations and laying off an estimated 1,000 employees.
The company will focus on investing in its European and Asia Pacific operations, the company said in a statement.
The $2 billion transaction will be completed in two phases, Viking Investments said.
Viking is focusing on investing its funds in Viking Investments LLC, a subsidiary of a Swedish private equity group that is based in Switzerland.
Viking Investments’ $2-billion U.N. fund will become Viking Investments International, the companies said.
A company spokesman did not immediately respond to an email seeking comment.
The Viking investments deal comes as U.K. authorities are weighing whether to launch an investigation into whether hedge fund billionaire Sir Richard Branson, who has a $1.8 billion stake in the company, improperly used Viking funds to support a private jet owned by his former company, Virgin Atlantic.
The British government is also investigating whether Branson’s former Virgin Atlantic Group made improper payments to his former hedge fund, SkyBridge Capital, which is owned by SkyBridge Management, which owns a stake in Viking.
Branson and his lawyers have said the claims against them are without merit.
Bratton, an outspoken critic of President Donald Trump, said the deal will benefit both Viking and the private jet maker.
“This is a very significant investment for both companies, and I’m delighted to see that the company will be able to make the necessary changes in its operations to bring the Viking investments back into its business operations,” he said in an interview.
Brancas statement said that Viking Investments will invest in Viking, its investment portfolio, and its operations in Europe, Asia Pacific, and Africa.
The new investment will include investments in the Viking Investment Group in Switzerland and Viking Investments in the United Kingdom.
Viking also expects to raise $1 billion through the sale of a stake of its interest in the U. S. private jet, Viking Investment Trust.
The announcement of the new Viking investment comes after a month of negotiations.
The deal was announced on March 27, the same day Branson announced plans to buy an interest in SkyBridge, which operates a fleet of jets.
Branson said in the statement that the Viking investment will help the company grow and compete in the private sector.
The company plans to invest up to $1bn in its U:S.
private aviation business, Viking said.
Bransson has said he is looking for a “new” airline to expand his fleet and is looking to sell a stake, the statement said.
The U.s. government has asked the company to keep details of the deal private pending the outcome of an investigation.
Viking has said that it will continue to invest in U. s private aviation, but has said it is unlikely to complete the purchase of SkyBridge.
Viking said it has plans to expand in Europe and the Middle East.
Branches of Viking’s private equity and investment arm are based in London.
Vikings shares fell as much as 5% on Wednesday, to $36.97.