OTHER NEWS - Feb. 15, 1994
Transamerica to Buy British Container Unit: The financial services company said it agreed to pay $1.1 billion for the troubled transport group Tiphook. The London-based business leases shipping containers, truck trailers and rail equipment. The two companies originally announced signing a letter of intent on the deal in November. San Francisco-based Transamerica is one of the world’s largest financial services companies. In London, Tiphook said that if the deal is not completed by March 15, its bankers will not provide any additional money for the company to meet its financial obligations.
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