Stonepeak to take shipping-container lessor Textainer private in $2.1 billion deal (updated)

Textainer group

23/10/2023 02:08

(Recasts first paragraph; adds details from statement in
paragraphs 3-4 and background in paragraph 7)
       Oct 22 (Reuters) - Container lessor Textainer  TGH.N 
said on Sunday that U.S. infrastructure investor Stonepeak will
take it private in a deal worth about $2.1 billion. 
    Textainer shareholders will receive $50 a share in cash,
representing a premium of 46.41% to Friday's close. The deal has
an enterprise value of about $7.4 billion.
    Textainer said it will no longer be listed on the New York
Stock Exchange and Johannesburg Stock Exchange after the closing
of the deal. 
    "After 16 years of operating in the public equity markets,
we are very excited to start this new chapter as a private
company," said Hyman Shwiel, chairman of the board of Textainer.
    Following the completion of the transaction, Textainer will
continue to be led by its president and CEO, Olivier Ghesquiere,
and will continue to be headquartered in Hamilton, Bermuda, the
statement said.
    Bermuda-based Textainer is a lessor of intermodal containers
with about 200 customers, according to its website. It has 14
offices and around 400 depots worldwide. 
    New York-based Stonepeak is an alternative investment firm
specializing in infrastructure and real assets with
approximately $57.1 billion of assets under management.

 (Reporting by Kanjyik Ghosh and Shivani Tanna in Bengaluru;
Editing by Tom Hogue and Christopher Cushing)
 ((Kanjyik.Ghosh@thomsonreuters.com;))