Textainer Group Holdings Limited to Acquire Leased Assets Pool Company Limited
Textainer Group Holdings Limited Common Shares (TGH)
Last textainer group holdings limited common shares earnings: 10/31 04:05 pm
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US:NYSE Investor Relations:
investor.textainer.com/investor-overview
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Source: PR Newswire
HAMILTON, Bermuda, Dec. 2, 2019 /PRNewswire/ -- Textainer Group Holdings Limited (NYSE: TGH) ("Textainer", "the Company", "we" and "our"), one of the world's largest lessors of intermodal containers, today announced that the Company's wholly-owned subsidiary, Textainer Limited, has entered into an agreement to purchase Leased Assets Pool Company Limited ("LAPCO") for an equity value of approximately $66 million in cash (constituting assets of $192 million less outstanding debt of $126 million). The Company intends to repay LAPCO's existing debt at the closing and refinance the LAPCO containers which are managed by Textainer in one or more of the Company's existing revolving credit facilities. The transaction is subject to certain closing conditions and is expected to close by year-end.LAPCO owns a fleet of approximately 163,000 TEU (twenty-foot equivalent units) of intermodal containers managed by Textainer and approximately 3,000 TEU of containers managed by other container l
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