Japan's Fuyo General Lease Co. Ltd. agreed to acquire a 50% stake in a Canada-based pickup truck rental and leasing company from Marubeni Corp.
Under the agreement, Marubeni will transfer 50% of shares issued by subsidiary Marubeni Auto Investment (CANADA) Inc., which owns pickup truck rental and leasing company TDF Group Inc. Financial details of the deal were not disclosed.
The deal is expected to close in March, subject to approval and license from relevant authorities, the companies said in a joint statement.
