MIUFY - CAI International Cashes Out With Sale To Owner Of Beacon Intermodal Leasing

• CAI International, the #5 container lessor in the world, announced a strategic review in December 2019.
• After failing to find a bidder, CAI terminated the strategic review in June 2020. CAI finished divesting its non-core assets in December 2020.
• On June 17, 2021, CAI announced a sale to Mitsubishi HC Capital, Inc. for $56/share.
• The price is approximately 1.58x March 31, 2021, Adjusted Tangible Book Value per Share and 1.4x estimated Dec. 31, 2021 Adj. TBVps.
• Mitsubishi HC Capital, Inc. acquired Beacon Container Leasing (#6 in the world) in 2014. The combined entity will become the third largest behind Triton and Textainer.

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