Wells Fargo Pays $152M For Stake In Transport Leasing Co.

Law360, New York (February 21, 2014, 1:20 PM EST) -- Singapore-based K1 Ventures Ltd., a unit of drilling rig and infrastructure giant Keppel Corp. Ltd., announced Friday that it would sell its majority stake in a U.S. transport leasing business to Wells Fargo & Co. for $152 million.

Under the deal, Wells Fargo will snatch up the 80.1 percent stake in Long Haul Holding Corp., which owns the Helm Holding Corp. transport leasing business, from K1-subsidiary Focus Up Holdings Ltd. Helm is one of the largest independent locomotive and railcar leasing companies in North America. K1...
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