Brookfield Infrastructure Partners LP will acquire intermodal freight equipment leasing and maritime container management services company Triton International Ltd. in deal with an enterprise value of $13.3 billion.
In a joint statement on Wednesday, the companies said the Toronto-based infrastructure assets manager and its institutional partners agreed to acquire Triton in a cash and stock transaction that values its common equity at about $4.7 billion.
Triton’s stock jumped on the news, up 18% to $81.04 in premarket trade. Triton’s shares have been down for most of 2023, declining 8.4%. The stock closed on Tuesday at $63.01.
“The sale price provides significant value to our investors and represents a 35% premium to yesterday’s closing share price,” Triton Chief Executive Brian Sondey said.
When the transaction closes, Brookfield Infrastructure Partners will hold an equity investment of about $1 billion, which include the BIPC shares.
Triton is the world’s largest owner and lessor of intermodal containers and is an important player in the transportation logistics infrastructure global supply chain.
