Conyers Dill & Pearman has represented SeaCube Container Leasing, a Bermuda company, in connection with the acquisition of SeaCube by Ontario Teachers’ Pension Plan by way of amalgamation following approval of the transaction by the shareholders of SeaCube at a special general meeting held on 23 April 2013.
The shareholders of SeaCube received $23 (£15) per share in cash for a total equity value of $469.5m and an enterprise value (including assumed debt) of $1.8bn. SeaCube was taken private with effect from the amalgamation on 24 April 2013.
Conyers worked alongside Skadden, Arps, Slate and Meagher & Flom. Sullivan & Cromwell acted for Ontario Teachers’ Pension Plan. The Conyers’ team was made up of Jason Piney and Guy Cooper.
SeaCube is reportedly one of the world’s largest container leasing companies based on total assets. The principal activities of SeaCube’s business include the acquisition, leasing, re-leasing and subsequent sale of refrigerated and dry containers, and generator sets.