HNA completes acquisition of GE SeaCo

Hong Kong: China's HNA Group and Bravia Capital completed the acquisition of container leasing firm GE SeaCo last week.

The acquired firm has been rebranded as Seaco. Seaco owns and manages over 870,000 20-teu containers and now operates as a core business within HNA's logistics and finance operations.

The deal has a total enterprise value of approximately $2.5bn.

"Our intention is to work with management to significantly grow this business over the next 24 months," said Tan Xiangdong, executive director of HNA, the parent company of shipowner Grand China Logistics.

HNA said all of Seaco's key management, including ceo David Amble, will remain with the company. [19/12/11]

Posted 19 December 2011

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