Textainer Acquires 49.9% Stake In TAP Funding - Quick Facts

(RTTNews) - Textainer Group Holdings Limited (TGH) said that its wholly-owned subsidiary, Textainer Limited, acquired the 49.9% interest in TAP Funding Ltd. owned by TAP Ltd.

Textainer Limited owns 100% of TAP Funding, following the acquisition.

TAP Funding was a joint venture between Textainer Limited and TAP Ltd. TAP Funding owns about 80,000 intermodal shipping containers already managed by Textainer with a net book value of approximately $175 million.

Following the closing of the share purchase, Textainer wholly-owns approximately 89 percent of the containers in the company's fleet.