CAI International, Inc. Announces Agreement to Sell its Logistics Business to NFI

Aug 17, 2020

CAI International, Inc. (“CAI” or the “Company”) (NYSE: CAI), announces the completion of an agreement to sell substantially all of the assets of its logistics business to NFI, on a debt free, cash free basis. In connection with the sale, substantially all of CAI’s employees of the logistics business were hired by NFI. The sale consideration consisted primarily of payment for the estimated net working capital of CAI’s logistics business as of the closing date, subject to adjustment 180 days after closing to reconcile to the actual net working capital as of the closing date.

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