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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.