JOC Staff | Jan 22, 2013 2:52PM EST
Ontario Teachers’ Pension Plan has acquired all of the shares of Park Ridge, N.J.-based SeaCube Container Leasing in an agreement between the two.
Under the terms of the deal, SeaCube shareholders will receive $23 in cash per SeaCube common share. The transaction has been unanimously approved by the SeaCube’s board of directors, and it is expected to close in the first half of 2013, subject to customary closing conditions.
Teachers’ plans to operate the container lessor as a standalone business operation with the current management team remaining in place.
