Hong Kong: The world´s 8th largest container leasing company, Hong Kong-based Capital Lease was purchased by an investment fund advised by DVB Bank. Immediately after the purchase, the management rights to the estimated 500,000teu container fleet (average age: 4.8 years), were sold to Textainer.
Ian Karan, Capital Lease chairman said, "Over the past eleven years we have built a world class container leasing company. I am very proud of our achievements in this regard and extend my thanks to my team, our clients and our business partners for their contributions. DVB Bank is a leading funding partner for the container leasing market whilst Textainer is a leading manager of container portfolios. The business that we have worked so hard to build is therefore, we believe, in safe hands. Henceforth, we will focus on actively expanding Capital Intermodal ?" our specialist container business ?" from its existing presence in Europe, USA and Australia".
"We are extremely pleased and proud to be taking over the management of Capital Lease's excellent container fleet and will continue its tradition of first class service. Increasing our fleet by 33% with the acquisition of the Capital Lease fleet will help ensure that we have the containers our customers want in the locations they want them," said John Maccarone, president and ceo of Textainer, adding "We strongly believe that more leasing industry consolidation is justified, and are actively seeking other opportunities." [25/07/07]
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