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Interpool Inc Sells Trailers to TIP

Published Thursday, March 01, 2001

Interpool Inc is selling some 50,000 intermodal trailers and domestic rail containers to Transport International Pool (TIP). These units include 40,000 units Interpool acquired from Transamerica Leasing Inc in October 2000. This transaction, expected to close in second-quarter 2001, is valued at about $345 million and is subject to customary closing conditions. Based in Devon PA and owned by GE Capital Services, TIP will use the trailers to help grow its intermodal business. Interpool plans to use the proceeds from the deal to pay down debt and free up capital for new investments. ...

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