PAG Increases Investment in Penske Truck Leasing
July 28, 2016
Today, Penske Automotive Group announced that it acquired an additional 14.4% interest in Penske Truck Leasing, Co., L.P. from GE Capital. Following the transaction, which was completed yesterday, Penske Automotive Group now holds a 23.4% ownership interest in Penske Truck Leasing.
<p>Penske business entities now hold a collective 64.5% interest in Penske Truck Leasing and control the general partner. GE retains a 15.5% interest in Penske Truck Leasing along with Mitsui & Co., Ltd. which holds 20.0%.The transaction has no impact on the day-to-day operations or management of either Penske Truck Leasing or Penske Logistics.</p><p><strong>Related Announcements</strong></p><ul class="ee-ul"> <li><a href="http://investors.penskeautomotive.com/phoenix.zhtml?c=82644&p=irol-newsArticle&ID=2189373">Penske Automotive Group Announcement</a></li> <li><a href="http://www.genewsroom.com/press-releases/ge-sells-144-stake-penske-truck-leasing-penske-automotive-group-283135">General Electric Announcement</a></li></ul></div>
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