Report: Bermuda Container Firm Sale Pending

Chicago’s Pritzker family plans to sell a Bermuda-based shipping container company for roughly $1 billion, according to a report.

The Chicago family, which owns Hyatt Hotels Group, is expected to sell its Triton Container International Ltd. to pair of private equity firms, the “Wall Street Journal” reported on Monday [Feb. 7]. Triton is a shipping container leasing firm based in Hamilton.

The financial and business newspaper cited unnamed sources close to the proposed transaction.

Warburg Pincus LLC and Vestar Capital Partners, both of New York, are the reported buyers. The sources told the “Journal” a deal could be announced before the end of the month — but also cautioned that talks could fail.

One of America’s wealthiest families, other Pritzker holdings have included the Superior Bank of Chicago, tobacco giant Conwood and the Royal Carbbean Cruise Lines. The Pritzkers at one point controlled Bermuda-based Western General Insurance which was sold last July to Catalina Holdings (Bermuda) Ltd., a local firm which acquires and manages non-life insurance and reinsurance companies and portfolios in run-off.

Western General had gone into run-off in January, 2006.

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