Dalian: Shenzhen-listed Bohai Leasing has announced that the company’s wholly owned subsidiary, Global Sea Containers, has inked an agreement with Cronos Holding to purchase 80% of its shares in Cronos Ltd. The total contract value, which includes Bohai taking on $25.88m of the company's debt, is around $610m and will be paid in cash.
The company announced the initial plans for the transaction in July this year and expected to complete it within 12 months.
Bohai Leasing, a subsidiary of the HNA Group, owns a portfolio of world class equipment leasing companies, and the acquisition of Cronos will help the company to further integrate its container leasing business. [24/11/14]