Container lessor GE SeaCo has agreed to be acquired by Hainan Airlines Group and Bravia Capital for a sum of $1.05bn, Seatrade Asia online reports. China-based Hainan Airlines, parent firm of Grand China Logistics, and New York-based Bravia Capital seek to significantly expand the container fleet of the subsidiary of General Electric over the next 18-24 months.
GE SeaCo is the world's fifth largest player in the marine container leasing industry, owning and managing over 870,000 20-foot containers.
“This acquisition fits precisely into Hainan Airlines' strategic plans to quickly grow our logistics and transport business,” said Adam Tan, executive director of Hainan Airlines.
The Chinese group currently owns and operates China's fourth largest port, a fleet of 30 containerships and a container ship finance arm.
GE SeaCo is the world's fifth largest player in the marine container leasing industry, owning and managing over 870,000 20-foot containers.
“This acquisition fits precisely into Hainan Airlines' strategic plans to quickly grow our logistics and transport business,” said Adam Tan, executive director of Hainan Airlines.
The Chinese group currently owns and operates China's fourth largest port, a fleet of 30 containerships and a container ship finance arm.