PAG & Mitsui Increase Ownership in PTL
Penske Truck Leasing, Co., L.P. (PTL) is pleased to announce that Penske Automotive Group, Inc. (PAG) and Mitsui & Co., Ltd. (Mitsui) have both increased their ownership positions in PTL.
Effective September 7, 2017, PAG acquired an additional 5.5% ownership interest in PTL from subsidiaries of GE Capital Global Holdings, LLC (GE). Mitsui also simultaneously acquired an additional 10% ownership interest in PTL from GE.
Following the transaction, PTL is now owned 41.1% by Penske Corporation, 28.9% by PAG, and 30% by Mitsui. As a result of these investments by PAG and Mitsui, GE no longer has an ownership interest in PTL. This change has no impact on how PTL operates its businesses or in how it serves customers.
Move Ahead Staff