Greater China

Bohai Leasing secures acquisition of Cronos

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]

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