Brief: Trencor To Sell Its Leased Assets Pool Company To Textainer For $65.5 Mln

Textainer group

02/12/2019 14:12

Dec 2 (Reuters) - Trencor Ltd  TREJ.J :
    * JSE: TRE - DISPOSAL OF LEASED ASSETS POOL COMPANY LIMITED
("LAPCO") - CATEGORY 2 TRANSACTION
    * TRENCOR LTD -
    * TRENCOR LTD - TAC LIMITED ENTERED INTO A STOCK PURCHASE
AGREEMENT WITH TEXTAINER LIMITED
    * TRENCOR LTD - PURCHASE CONSIDERATION FOR SALE INTERESTS IS
US$65.5 MILLION
    * TRENCOR LTD - DEAL PURCHASE CONSIDERATION TO BE PAID BY
TEX TO
TAC IN CASH
    * TRENCOR LTD - A BREAK FEE OF BETWEEN US$1,9 MILLION AND
US$4,0
MILLION IS PAYABLE BY TAC TO TEX
    * TRENCOR LTD - IMPACT OF TRANSACTION ON TRENCOR'S TOTAL NET
ASSET
VALUE PER SHARE IS A REDUCTION OF CIRCA 7%
    * TRENCOR - NET PROCEEDS RECEIVED PURSUANT TO IMPLEMENTATION
OF
DEAL WILL BE RETAINED BY, AND APPLIED FOR BENEFIT OF, TRENCOR
GROUP FOR TIME BEING

Source text for Eikon:  ID:nJseB0065a 
Further company coverage:  TREJ.J 

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