Brookfield Infrastructure acquires Triton International
On April 12, 2023, Brookfield Infrastructure Partners L.P. (“BIP”), through its subsidiary Brookfield Infrastructure Corporation (“BIPC”) and its institutional partners (collectively, “Brookfield Infrastructure”), and Triton International Limited (“Triton”) jointly announced a definitive agreement for Triton to be acquired in a cash and stock transaction valuing its common equity at approximately US$4.7 billion and reflecting a total enterprise value of approximately US$13.3 billion.
Successful completion of the acquisition was announced on September 28, 2023, following approval from Triton’s shareholders on August 24, 2023.
In connection with the completion of the transaction, as previously announced, Triton common shareholders were entitled to receive a per share consideration equal in value to US$68.50 in cash and 0.3895 BIPC class A exchangeable shares based on the volume-weighted average sales price per BIPC share on the New York Stock Exchange over the ten consecutive trading days ending on September 26, 2023.
Triton will continue to operate under the Triton name, maintain its global presence, and be led by Chief Executive Officer Brian M. Sondey and its current executive leadership team.
Further information can be found on Business Wire’s website.
Triton is the world’s largest lessor of intermodal freight containers. With a container fleet of over 7 million twenty-foot equivalent units ("TEU"), Triton’s global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.
Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe.