Container Applications International Inc (CAI), the world’s seventh largest container lessor with an owned and managed fleet of around 630,000 TEU, has repurchased the 50% common equity interest in CAI that was formerly held by Interpool Inc for US$40M in cash and a four-year US$37.5M note.
Interpool acquired its stake in CAI in 1998 for US$12M, primarily because the term and finance lease specialist needed a means of remarketing containers coming off-hire. The companies have signed a long-term agreement, which gives Interpool the option to continue to use CAI as a manager for certain containers....
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This complete item is approximately 325 words in length, and appeared in the October 2006 issue of WorldCargo News, on page 20.
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