Container lessor Textainer said 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.
