HNA moves in for TIP
NewsAlmost two years after it acquired container lessor GE SeaCo from GE Capital and SeaCo Ltd, China’s HNA Group Company Ltd has returned to GE Capital to buy the latter’s European trailer rental operation TIP Trailer Services
General Finance Corp and its subsidiary Royal Wolf Trading Australia Pty Ltd have agreed to acquire the dry and refrigerated container assets of GE SeaCo Australia Pty Ltd for A$20M (US$18.4M).
The move sees Royal Wolf adding more than 6300 standard, palletwide and reefer containers to its fleet, of which 4600 units are leased with 20-30 national accounts. “This transaction is a natural fit for Royal Wolf and continues our strategy of both organic and acquisition growth,” said Ronald Valenta, CEO of General Finance.
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This complete item is approximately 300 words in length, and appeared in the November 2007 issue of WorldCargo News, on page 18. To access this issue download the PDF here.
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