June 15, 2020
- The attempt by container renter CAI to divest
part or all the company failed
- Confirmed intention to exit the rail and rail sectors
focus on the core container business.
- The initiative of the American container renter CAI
International to probe the market with the intention of divesting part of
or all the activities of the activity, which has been
started at the end of last year
December 2019), ended with nothing done.
In fact, after announcing last month the suspension of the
plan to sell the division that deals with railway wagons
May 2020), today the company announced that it had
completed its review process
strategic alternatives and having decided that the best strategy
to maximize shareholder value is to focus
activity on the lucrative container segment.
- CAI International has specified that it has received
several expressions of interest in the acquisition in recent months
part of the company and that, however, given the current
volatility and market instability, which - has
CAI - has been highlighted by a number of
bidders, none of the expressions of interest expressed
judged in the best interests of the company's shareholders
as - explained CAI - the Board of Directors
concluded that all expressions of interest underestimated the
company's value based on its assets, assets
and its growth prospects.
- However, the Board has confirmed its intention to exit the
rail and logistics to focus on rail and logistics
on the core container rental business.
- The failure of the attempt to divest corporate assets
it wasn't painless for the president and administrator
company's ceo Victor Garcia, who resigned
Resignation. Garcia joined CAI in November 2006 as a
chief financial officer and senior vice president, to hire
President and CEO in 2011. The advice of
appointed Timothy Page as CEO and
interim president of CAI, who is still looking
a new permanent CEO.
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