Bohai Leasing Co. Ltd., a parent of the Seaco marine container leasing group, has signed a memorandum of understanding with Cronos Holding Company Ltd., Bermuda, for the acquisition of 80% of Cronos Ltd., with a minority investor acquiring the remaining 20%.
Seaco and Cronos will continue to operate separately during the period prior to the finalization of the acquisition.
Following completion, the Bohai subsidiaries will own a combined 3,420,000 CEU container fleet, making Bohai owner of the largest container lessor fleet in the world.
The transaction has been arranged by Bravia Capital, a Hong Kong based investment and advisory firm with a primary focus on transportation and logistics investments worldwide.
Bharat Bhise, CEO of Bravia Capital said: “Bohai’s investment in container leasing through its current ownership of Seaco and its contemplated investment in Cronos will create the largest diversified fleet of dry, reefer, tank and special containers in the world.
Cronos is a world class container leasing company and we are pleased to bring to Bohai an acquisition that is a very strong strategic fit.”
Press Release; July 15th, 2014