Mitsui Buys 20% Stake in Penske Truck Leasing
Japan’s Mitsui & Co. has acquired a 20% stake in Penske Truck Leasing Co. from General Electric Capital Corp.
GE will continue to own a 29.9% limited partnership interest in Penske, which said the deal will not affect Penske Corp.’s management and control of the company, as Penske Corp. will continue to own a 50.1% interest.
“Since 2001, Mitsui has been a valuable strategic partner, supporting the development and global expansion of Penske’s businesses,” Penske Corp. Chairman Roger Penske said. The “investment in PTL further strengthens our long-term relationship with their organization.”
Affiliated company Penske Logistics ranks No. 32 on the Transport Topics Top 100 list of U.S. and Canadian for-hire carriers.
