PAG Increases Investment in Penske Truck Leasing
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.
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.
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