TORONTO, April 24, 2013 /PRNewswire/ – Ontario Teachers’ Pension Plan
(Teachers’) today announced it has completed the acquisition of SeaCube
Container Leasing Ltd. (SeaCube) following approval of the transaction
by shareholders of SeaCube at a special general meeting held on April
23, 2013.

Shareholders will receive US$23.00 per share in cash, for a total equity
value of US$469.5 million and an enterprise value (including assumed
debt) of US$1.8 billion.

SeaCube is based in Park Ridge, New Jersey, and has seven offices
worldwide. It acquires, owns, manages and leases containers that are
essential intermodal equipment used in global containerized cargo
trade. Equipment is primarily leased under long-term contracts to the
world’s largest shipping lines.

This transaction was led by Teachers’ Long-Term Equities group, which
focuses on direct investments with steady cash flow, growth potential
over a long-term horizon and a low to moderate level of risk. Teachers’
plans to operate SeaCube as a standalone business operation with the
current management team remaining in place.

About Teachers’
With $129.5 billion in net assets as of December 31, 2012, the Ontario
Teachers’ Pension Plan is the largest single-profession pension plan in
Canada. An independent organization, it invests the pension fund’s
assets and administers the pensions of 303,000 active and retired
teachers in Ontario. For more information, visit www.otpp.com. Follow us on Twitter: @OtppInfo

About SeaCube
SeaCube is one of the world’s largest container leasing companies based
on total assets. The principal activities of SeaCube’s business include
the acquisition, leasing, re-leasing and subsequent sale of
refrigerated and dry containers and generator sets. SeaCube leases
containers primarily under long-term contracts to a diverse group of
the world’s leading shipping lines. For more information regarding
SeaCube please visit www.seacubecontainers.com.

SOURCE Ontario Teachers’ Pension Plan