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Bohai Leasing plans to sell 100% equity of GSCL to exit the container leasing business

Zhitong
May 20, 2025 at 11:02 PM
LongbridgeAII'm LongbridgeAI, I can summarize articles.

Bohai Leasing announced its plan to sell 100% equity of its wholly-owned subsidiary GSCL, with a transaction price of approximately USD 1.632 billion. GSCL primarily engages in container leasing services, serving 750 customers worldwide. The proceeds from this transaction will be used to repay high-interest dollar debts and improve cash flow. Upon completion, the company will exit the container leasing business and focus on aircraft leasing

According to the Zhitong Finance APP, Bohai Leasing (000415.SZ) announced that its wholly-owned subsidiary Global Sea Containers Two Limited (referred to as "GSCTL") intends to transfer 100% equity of its subsidiary Global Sea Containers Ltd (referred to as "GSCL"). Recently, the company's wholly-owned subsidiary GSCTL signed a conditional equity purchase agreement and related transaction documents with Typewriter Ascend and related parties. Typewriter Ascend intends to purchase 100% equity of GSCL for cash, with a base price of USD 1.75 billion. According to the transaction price adjustment mechanism, the transaction price for 100% equity of GSCL is approximately USD 1.632 billion as of the end of 2024.

The announcement shows that the target company GSCL primarily engages in container leasing business. As of the end of the first quarter of 2025, GSCL's owned and managed fleet size is approximately 4.055 million CEU, including dry containers, refrigerated containers, tank containers, and special containers, with an average container utilization rate of 98.50%. GSCL serves approximately 750 leasing customers globally, with containers distributed across 186 ports worldwide and owning 23 operational centers globally.

The announcement stated that through this transaction, the company will obtain a significant cash consideration, and the sale proceeds will mainly be used to repay high-interest offshore dollar debts, as well as improve domestic cash flow and business recovery. After the completion of this transaction, the company will no longer operate the container leasing business, effectively avoiding adverse impacts from fluctuations in the global trade environment and further focusing on its core aircraft leasing business

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Bohai Leasing

Bohai Leasing

000415.SZ

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