Weil Reps GE In $1B Sale Of SeaCo To HNA Group, Bravia

Law360, New York (August 1, 2011, 12:38 PM EDT) -- Chinese conglomerate HNA Group Co. Ltd. and Hong Kong-based private equity firm Bravia Capital on Monday announced that they would acquire General Electric Co.'s stake in GE Seaco, the world's fifth-largest marine container leasing company, for $1 billion.

The sale of Singapore-based GE Seaco, a 50/50 joint venture between GE Capital and SeaCo Ltd. that manages more than 870,000 20-foot equivalent units — the industry's standard measure — will net GE about $500 million and SeaCo $528 million.

The sale will also include certain of GE...
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