Newsletter #001 (View other news stories)
INTERPOOL EXPANDS: US GOVT APPROVES TRANSAMERICA BUYOUT
Princeton - NJ, United States
Friday, 1 Sep 2000
PRINCETON, NJ, USA -- Interpool Inc has received US Government approval for its acquisition of the North American intermodal division of Transamerica Leasing Inc from Aegon NV, in The Netherlands.
The deal will expand its control of intermodal equipment and container and chassis leasing.
Interpool, which leases containers and chassis to more than 200 customers globally, was required to get approval under the US Hart-Scott-Rodino Anti-trust Improvements Act for the transaction.
Transamerica Leasing, based in Purchase, New York, is a leading lessor of intermodal equipment. The company is part of Transamerica Finance Corporation, acquired by Aegon in July 1999.
Interpool announced in July that it had signed a definitive agreement to acquire the division for US$675 million.
Interpool chairman Martin Tuchman said the acquisition would "substantially advance" his company's goal of leading the US equipment leasing market.
Its customers include most of the world's 20 largest international container shipping lines.
"Through this transaction, we greatly expand our chassis fleet, broaden our management and customer services teams, and strengthen our financial resources and technology platform," Mr Tuchman said.
He said Transamerica's rail industry focus "perfectly complemented" Interpool's presence in the maritime industry.
Interpool reported a net income of US$19.42 million for the six months to June 2000, compared with US$14.98 million for the same period in 1999.
Interpool, which leases containers and chassis to more than 200 customers globally, was required to get approval under the US Hart-Scott-Rodino Anti-trust Improvements Act for the transaction.
Transamerica Leasing, based in Purchase, New York, is a leading lessor of intermodal equipment. The company is part of Transamerica Finance Corporation, acquired by Aegon in July 1999.
Interpool announced in July that it had signed a definitive agreement to acquire the division for US$675 million.
Interpool chairman Martin Tuchman said the acquisition would "substantially advance" his company's goal of leading the US equipment leasing market.
Its customers include most of the world's 20 largest international container shipping lines.
"Through this transaction, we greatly expand our chassis fleet, broaden our management and customer services teams, and strengthen our financial resources and technology platform," Mr Tuchman said.
He said Transamerica's rail industry focus "perfectly complemented" Interpool's presence in the maritime industry.
Interpool reported a net income of US$19.42 million for the six months to June 2000, compared with US$14.98 million for the same period in 1999.
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