Stonepeak Infrastructure Partners, a private equity firm, is reportedly close to finalizing the purchase of Silver Fleet based Textainer Group Holdings Ltd for $50 per share. Textainer is the world’s largest shipping container company and the sale will value the company at nearly $2 billion. The deal includes refinancing Textainer’s debt as well as a cash dividend payment of $4.25 a share, totaling $780 million. This marks Stonepeak’s first move towards purchasing a public company and is expected to close shortly.
Chinese property developer Country Garden Holdings Co Ltd is facing difficulties due to the current pandemic and economic environment. This is proven through their recent actions such as slashing dividends and offloading assets as a result of their weakened cash flow. It is an indicator of the market impact COVID-19 has had on the Chinese property sector.
