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News Breaks | | | | December 27, 2012 | | 16:17 EDT |  | TGH | Textainer acquired 50.1% interest in managed container fleet
Textainer Group Holdings announced that it acquired a 50.1% interest in TAP Funding Ltd., a Bermuda company that owns an approximately 99,000 TEU (twenty-foot equivalent unit) fleet of containers currently managed by Textainer for approximately $78M, including the value of TAP Funding Ltd.’s existing debt that remains outstanding. This fleet contains a well diversified mix of container types, including standard dry freight, refrigerated and specialized dry freight containers. Additionally, the fleet has high utilization and a diversified lessee mix consistent with Textainer’s overall container fleet. Textainer has agreed with TAP Ltd., the other shareholder in TAP Funding Ltd., to continue to invest in new containers for this fleet, in order to both grow the portfolio and maintain the relatively young average age of the containers. | |
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| May 13, 2013 | | 06:19 EDT |  | TGH | Textainer to host analyst day
 Subscribe for More Information | | | May 7, 2013 | | 09:07 EDT |  | TGH | Textainer says it is difficult to predict the market for remainder of the year
"Demand was softer than expected during the Q1 and we saw several shipping lines purchasing containers," stated the company. "Due in part to the abundance of liquidity in the marketplace, we have seen aggressive pricing for new business which has served to compress yields. Nevertheless, we are well positioned as we move through 2013 given our strong investments over the past six months at very attractive prices. At this time, it is very difficult to predict market conditions for the remainder of the year. We currently expect to see stronger demand in the Q3. We also expect that container lessors will purchase between 50-60% of total output although output is likely to fall below that of 2012. On the other hand, we expect to see an increasing number of purchase leaseback opportunities. We remain excited about our prospects for 2013," concluded Mr. Brewer. | | | 09:06 EDT | | TGH | Textainer reports Q1 adj. EPS 81c, consensus 92c
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