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Brookfield completes $13.3bn Triton acquisition

Brian Sondey, CEO of Triton (File photograph)

Brookfield Infrastructure’s $13.3 billion take-private acquisition of Bermudian-based Triton International, the world's largest lessor of intermodal freight containers, has been completed.

Making the announcement, the acquired company said it will continue to operate under the Triton name, maintain its global presence and be led by chief executive Brian Sondey and its existing executive leadership team.

Mr Sondey said: “Today marks an exciting new chapter for Triton. This transaction provides significant value to our shareholders, and with the support and resources of Brookfield Infrastructure, we will be even better positioned to build on our strong foundation as a leader in our industry.

“Brookfield Infrastructure is an ideal partner for Triton’s next phase of growth.”

Now that the deal is complete, Triton said, its common shares have ceased trading on the New York Stock Exchange and will no longer be listed on any public market.

The company said Triton’s preference shares remain outstanding and entitled to the same dividends and other preferences and privileges that they previously had, with the preference share dividends remaining an obligation of Triton.

The preference shares continue to be listed on the NYSE after the closing.

Triton has a container fleet of more than seven million 20-foot equivalent units.

Its global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.

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Published September 29, 2023 at 7:58 am (Updated September 29, 2023 at 8:47 am)

Brookfield completes $13.3bn Triton acquisition

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