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Stock Market & Financial Investment News

News Breaks
April 1, 2014
12:40 EDTCGICeladon Group announces sale of lease portfolio assets
Celadon Group announced that it has agreed to sell its independent contractor lease portfolio and associated assets to Element Financial. The existing portfolio includes approximately 600 leases and tractors that are currently in service with independent contractors with Celadon and other partner carriers. The purchase price of the transaction is approximately $53M, which the company expects to use the funds to pay down its bank line. As part of this transaction, the company has also entered into a Program Agreement with Element under which Element will provide financing for the renewal and expansion of the transportation assets operated by independent lessees under contract to Celadon.
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October 8, 2014
10:06 EDTCGIStephens transportation analysts hold an analyst/industry conference call
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