• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishDashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees
    Legal
    Terms of usePrivacy policyCookie policy

    Textainer Closes Acquisition by Stonepeak and Announces Post-Acquisition Redemption of All Preference Shares and Related Depositary Shares

    3/14/24 8:59:23 AM ET
    $TGH
    Diversified Commercial Services
    Consumer Discretionary
    Get the next $TGH alert in real time by email

    HAMILTON, Bermuda and NEW YORK, March 14, 2024 (GLOBE NEWSWIRE) -- Textainer Group Holdings Limited (NYSE:TGH, JSE: TXT))) ("Textainer"), one of the world's largest lessors of intermodal containers, today announced that it completed the previously announced acquisition of Textainer by investment vehicles managed by Stonepeak.

    All common shares of Textainer converted into the right to receive $50.00 per share in cash. The per share consideration paid to shareholders on the JSE will be in South African Rand at an exchange rate of 18.98821 Rand for each USD 1.00. The common shares, which trade on the New York Stock Exchange (the "NYSE") under the ticker symbol "TGH", were suspended from trading today prior to the open of market and will be delisted from the NYSE within 10 days.

    In addition, Textainer intends to file a certification on Form 15F with the SEC requesting the termination of registration of the common shares under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the suspension of Textainer's reporting obligations under Section 13 of the Exchange Act with respect to the common shares.

    Also on March 14, 2024, after the closing of the acquisition, Textainer issued a notice of redemption for all its (i) 7.000% Series A Cumulative Redeemable Perpetual Preference Shares (the "Series A Preference Shares") and the corresponding redemption of each depositary share representing a 1/1000th interest in each such share, CUSIP 88314W204 (NYSE:TGH) (the "Series A Depositary Shares"), and (ii) 6.250% Series B Cumulative Redeemable Perpetual Preference Shares (the "Series B Preference Shares" and, collectively with the Series A Preference Shares, the "Preference Shares") and the corresponding redemption of each depositary share representing a 1/1000th interest in each such share, CUSIP 88314W303 (NYSE:TGH) (the "Series B Depositary Shares").

    The redemption date for the Preference Shares and corresponding depositary shares will be April 15, 2024 (the "Redemption Date"). The redemption price for (i) each Series A Preference Shares will be $25,150.69 and (ii) each Series B Preference Share will be $25,134.55 (representing, in each case, $25,000 plus all accumulated and unpaid distributions to, but not including, the Redemption Date, whether or not declared). The corresponding depositary share redemption price will be (i) $25.15 per Series A Depositary Share and (ii) $25.13 per Series B Depositary Share (representing, in each case, $25.00 plus all accumulated and unpaid distributions to, but not including, the Redemption Date, whether or not declared).

    Regular quarterly dividends on the Preference Shares and depositary shares are payable March 15, 2024, to each holder of record on March 1, 2024. No dividends on the Preference Shares and depositary shares will accrue on or after the Redemption Date, nor will any interest accrue on amounts held to pay the redemption price.

    Following the redemption of the Preference Shares and depositary shares, Textainer will request that the NYSE delist the depositary shares.

    In addition, Textainer intends to file a certification on Form 15F with the SEC requesting the termination of registration of the Series A Preference Shares and the Series B Preference Shares under Section 12(g) of the Exchange Act and the suspension of Textainer's reporting obligations under Section 13 of the Exchange Act with respect to the Preference Shares.

    About Textainer Group Holdings Limited

    Textainer has operated since 1979 and is one of the world's largest lessors of intermodal containers with more than 4 million TEU in our owned and managed fleet. We lease containers to approximately 200 customers, including all of the world's leading international shipping lines, and other lessees. Our fleet consists of standard dry freight, refrigerated intermodal containers, and dry freight specials. We also lease tank containers through our relationship with Trifleet Leasing and are a supplier of containers to the U.S. Military. Textainer is one of the largest and most reliable suppliers of new and used containers. In addition to selling older containers from our fleet, we buy older containers from our shipping line customers for trading and resale and we are one of the largest sellers of used containers. Textainer operates via a network of 14 offices and approximately 400 independent depots worldwide. Visit www.textainer.com for additional information about Textainer.

    Cautionary Statement Regarding Forward-Looking Statements

    Certain statements in this press release may constitute "forward-looking statements." Actual results could differ materially from those projected or forecast in the forward-looking statements. The factors that could cause actual results to differ materially include the following: the effects of industry, market, business, economic, political or regulatory conditions; decreases in the demand for leased containers; decreases in market leasing rates for containers; difficulties in re-leasing containers after their initial fixed-term leases; customers' decisions to buy rather than lease containers; increases in the cost of repairing and storing Textainer's off-hire containers; Textainer's dependence on a limited number of customers and suppliers; customer defaults; decreases in the selling prices of used containers; the impact of COVID-19 or future global pandemics on Textainer's business and financial results; risks resulting from the political and economic policies of the United States and other countries, particularly China, including but not limited to, the impact of trade wars, duties, tariffs or geo-political conflict; risks stemming from the international nature of Textainer's business, including global and regional economic conditions, including inflation and attempts to control inflation, and geopolitical risks such as the ongoing war in Ukraine and activities in Israel; extensive competition in the container leasing industry and developments thereto; decreases in demand for international trade; disruption to Textainer's operations from failures of, or attacks on, Textainer's information technology systems; disruption to Textainer's operations as a result of natural disasters; compliance with laws and regulations related to economic and trade sanctions, security, anti-terrorism, environmental protection and anti-corruption; the availability and cost of capital; restrictions imposed by the terms of Textainer's debt agreements; and changes in tax laws in Bermuda, the United States and other countries.

    You should carefully consider the foregoing factors and the other risks and uncertainties that affect Textainer's business described in the "Risk Factors" and "Information Regarding Forward-Looking Statements; Cautionary Language" sections of its Annual Report on Form 20-F and other documents filed from time to time with the U.S. Securities and Exchange Commission (the "SEC"), all of which are available at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Textainer assumes no obligation to, and does not intend to, update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law. Textainer does not give any assurance that it will achieve expectations.

    Contacts

    Textainer

    Investor Relations

    +1 415-658-8333

    [email protected]



    Primary Logo

    Get the next $TGH alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $TGH

    DatePrice TargetRatingAnalyst
    7/28/2023$40.00 → $45.00Outperform → Mkt Perform
    Keefe Bruyette
    More analyst ratings

    $TGH
    Financials

    Live finance-specific insights

    See more
    • Textainer Closes Acquisition by Stonepeak and Announces Post-Acquisition Redemption of All Preference Shares and Related Depositary Shares

      HAMILTON, Bermuda and NEW YORK, March 14, 2024 (GLOBE NEWSWIRE) -- Textainer Group Holdings Limited (NYSE:TGH, JSE: TXT))) ("Textainer"), one of the world's largest lessors of intermodal containers, today announced that it completed the previously announced acquisition of Textainer by investment vehicles managed by Stonepeak. All common shares of Textainer converted into the right to receive $50.00 per share in cash. The per share consideration paid to shareholders on the JSE will be in South African Rand at an exchange rate of 18.98821 Rand for each USD 1.00. The common shares, which trade on the New York Stock Exchange (the "NYSE") under the ticker symbol "TGH", were suspended from trad

      3/14/24 8:59:23 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • Textainer Group Holdings Limited Reports Fourth-Quarter and Full-Year 2023 Results and Declares Dividend

      HAMILTON, Bermuda, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Textainer Group Holdings Limited (NYSE:TGH, JSE: TXT))) ("Textainer", "the Company", "we" and "our"), one of the world's largest lessors of intermodal containers, today reported unaudited financial results for the fourth-quarter and full-year ended December 31, 2023. Key Financial Information (in thousands except for per share and TEU amounts) (1) and Business Highlights:   QTD  Full-Year   Q4 2023  Q3 2023  Q4 2022  2023  2022 Total lease rental income $190,830  $192,497  $202,912  $770,391  $810,014 Gain on sale of owned fleet containers, net $3,967  $5,197  $15,033  $26,415  $76,947 Income from operations $82,277  $92,165  $111,544  

      2/13/24 8:00:00 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • Textainer Announces Date Of Special Meeting And Publication Of Its Proxy Statement To Approve Acquisition By Stonepeak

      HAMILTON, Bermuda and NEW YORK, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Textainer Group Holdings Limited (NYSE:TGH, JSE: TXT))) ("Textainer"), one of the world's largest lessors of intermodal containers, today announced that it has published its proxy statement relating to a special meeting of its shareholders (the "Special Meeting") to approve the previously announced acquisition of Textainer by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. The Special Meeting is scheduled for February 22, 2024 at 1:30 p.m., Bermuda Time, at Textainer's registered office at Century House, 16 Par-La-Ville Road, Hamilton HM 08, Bermuda. Shareholders entitled to

      1/17/24 4:56:04 PM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary

    $TGH
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Stonepeak Completes Acquisition of Textainer

      NEW YORK and HAMILTON, Bermuda, March 14, 2024 (GLOBE NEWSWIRE) -- Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced it has completed its acquisition of Textainer Group Holdings Limited (NYSE:TGH, JSE: TXT))) ("Textainer" or "the Company"), one of the world's largest lessors of intermodal containers. "Today we embark on Textainer's exciting next chapter with a renewed commitment to delivering high quality equipment and best-in-class service to our customers worldwide," said Olivier Ghesquiere, President and Chief Executive Officer. "Over the years, we have established Textainer as our customers' "first call" for containers, an

      3/14/24 9:14:00 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • Textainer Closes Acquisition by Stonepeak and Announces Post-Acquisition Redemption of All Preference Shares and Related Depositary Shares

      HAMILTON, Bermuda and NEW YORK, March 14, 2024 (GLOBE NEWSWIRE) -- Textainer Group Holdings Limited (NYSE:TGH, JSE: TXT))) ("Textainer"), one of the world's largest lessors of intermodal containers, today announced that it completed the previously announced acquisition of Textainer by investment vehicles managed by Stonepeak. All common shares of Textainer converted into the right to receive $50.00 per share in cash. The per share consideration paid to shareholders on the JSE will be in South African Rand at an exchange rate of 18.98821 Rand for each USD 1.00. The common shares, which trade on the New York Stock Exchange (the "NYSE") under the ticker symbol "TGH", were suspended from trad

      3/14/24 8:59:23 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • Textainer Announces Shareholder Approval of Its Pending Acquisition by Stonepeak and Receipt of Required Antitrust Approvals

      HAMILTON, Bermuda and NEW YORK, Feb. 23, 2024 (GLOBE NEWSWIRE) -- Textainer Group Holdings Limited (NYSE:TGH, JSE: TXT))) ("Textainer"), one of the world's largest lessors of intermodal containers, today announced that at a special meeting of its shareholders held on February 22, 2024, Textainer's shareholders voted to approve the proposed acquisition of Textainer by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. Upon closing the acquisition, Textainer's common shareholders will have the right to receive $50.00 per common share in cash without interest and subject to any applicable withholding taxes. Upon closing the acquisition, each of

      2/23/24 7:36:06 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary

    $TGH
    Leadership Updates

    Live Leadership Updates

    See more

    $TGH
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more

    $TGH
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more

    $TGH
    SEC Filings

    See more
    • Lisa P. Young Appointed to Valo's Board of Directors

      Former Ernst and Young Senior Partner to serve as Chair of Audit Committee BOSTON, Jan. 4, 2024 /PRNewswire/ -- Valo Health, Inc ("Valo"), a technology company focused on utilizing large scale data and artificial intelligence ("AI") driven computation to discover and develop therapeutics, today announced the appointment of Lisa P. Young to its Board of Directors and as the chair of its Audit Committee. Young is a seasoned board member and global business leader with over 36 years of cross-sector, international experience in public accounting and professional services. "I am honored to welcome Lisa to the Valo Board of Directors. Her nearly four decades at EY in working with new business mod

      1/4/24 10:36:00 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • Fundbox Appoints Hilliard Terry to Board of Directors

      SAN FRANCISCO, CA, June 22, 2021 (GLOBE NEWSWIRE) -- Fundbox, the financial platform for small businesses, announced today that it has appointed Hilliard Terry to its Board of Directors. Mr. Terry is an experienced executive leader, corporate board member and advisor to private equity backed portfolio companies.   Mr. Terry currently serves on the board of directors of Umpqua Holdings Corporation (NASDAQ:UMPQ), a financial services company. He also serves on the board of directors of Upstart Holdings, Inc. (NASDAQ:UPST), a leading artificial intelligence consumer lending platform, and on the board of TLG Acquisition One Corporation (NYSE:TLGA), a special purpose acquisition company. "H

      6/22/21 12:00:00 PM ET
      $UPST
      $TGH
      $A
      $TLGA
      Finance: Consumer Services
      Finance
      Diversified Commercial Services
      Consumer Discretionary
    • Textainer Group Holdings Limited Welcomes New Members of the Board of Directors

      HAMILTON, Bermuda, June 1, 2021 /PRNewswire/ -- Textainer Group Holdings Limited (NYSE:TGH) ("Textainer", "the Company", "we" and "our") announced that two new members of its Board of Directors were elected at the May 26, 2021 Annual Meeting of Shareholders.  James Earl and Cynthia Hostetler were elected as new Class II directors and Olivier Ghesquiere was re-elected as a Class II director at the Annual Meeting.   The Company's shareholders also approved the 2020 audited financial statements and the appointment of KPMG as the Company's auditor for 2021.  Mr. Earl was an executive with NYSE-listed GATX Corporation from 1988 to 2018, ultimately serving as Executive Vice President, President o

      6/1/21 4:05:00 PM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • SEC Form SC 13G/A filed by Textainer Group Holdings Limited (Amendment)

      SC 13G/A - TEXTAINER GROUP HOLDINGS LTD (0001413159) (Subject)

      4/16/24 3:42:59 PM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • SEC Form SC 13G filed by Textainer Group Holdings Limited

      SC 13G - TEXTAINER GROUP HOLDINGS LTD (0001413159) (Subject)

      3/4/24 4:47:12 PM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • SEC Form SC 13G filed by Textainer Group Holdings Limited

      SC 13G - TEXTAINER GROUP HOLDINGS LTD (0001413159) (Subject)

      2/23/24 9:26:06 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • Textainer Group downgraded by Keefe Bruyette with a new price target

      Keefe Bruyette downgraded Textainer Group from Outperform to Mkt Perform and set a new price target of $45.00 from $40.00 previously

      7/28/23 7:36:12 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • B. Riley Securities resumed coverage on Textainer Group with a new price target

      B. Riley Securities resumed coverage of Textainer Group with a rating of Buy and set a new price target of $42.00

      6/9/21 7:47:09 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • B. Riley resumed coverage on Textainer Group with a new price target

      B. Riley resumed coverage of Textainer Group with a rating of Buy and set a new price target of $36.00 from $31.00 previously

      2/18/21 8:31:12 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • SEC Form 15F-12B filed by Textainer Group Holdings Limited

      15F-12B - TEXTAINER GROUP HOLDINGS LTD (0001413159) (Filer)

      4/25/24 8:45:51 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • SEC Form 25-NSE filed by Textainer Group Holdings Limited

      25-NSE - TEXTAINER GROUP HOLDINGS LTD (0001413159) (Subject)

      4/15/24 10:12:59 AM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary
    • SEC Form 15F-12B filed by Textainer Group Holdings Limited

      15F-12B - TEXTAINER GROUP HOLDINGS LTD (0001413159) (Filer)

      3/25/24 2:14:25 PM ET
      $TGH
      Diversified Commercial Services
      Consumer Discretionary