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Warburg Pincus, Vestar near deal to buy Triton: source
February 24, 2011 / 2:22 AM / 7 years ago

Warburg Pincus, Vestar near deal to buy Triton: source

NEW YORK (Reuters) - One of America’s wealthiest families, the Pritzker family, is nearing a deal to sell container leasing company Triton Container International Ltd to two private equity firms, a source familiar with the matter said on Wednesday.

Warburg Pincus LLC and Vestar Capital Partners are close to an agreement to acquire Triton, which is owned by Chicago’s Pritzker family, the source said, asking not to be identified because details of the auction are not public.

People familiar with the matter told Reuters in October that the Pritzker family had hired Bank of America Corp (BAC.N) to sell Triton and the sale could fetch about $1 billion.

It could not be learned on Wednesday how much Warburg and Vestar have agreed to pay for Triton Container. The Wall Street Journal reported earlier on Wednesday that the deal, valued at about $1 billion, could be announced as early as Thursday, citing people familiar with the matter.

The auction for Triton started in the summer and has attracted private equity buyer interest, sources told Reuters previously.

Warburg Pincus and Vestar declined comment. Bank of America could not be immediately reach for comment.

Reporting by Soyoung Kim; Editing by Bernard Orr

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