Le Lézard
Classified in: Transportation, Business
Subject: STOCK/OTHER MARKET NEWS

TFI International Unlocks Shareholder Value with Sale and Leaseback of Selected Real Estate Assets



MONTREAL, QUEBEC--(Marketwired - Oct. 4, 2017) - TFI International Inc. (TSX:TFII)(OTCQX:TFIFF), a North American leader in the transportation and logistics industry, today announced it has concluded a sale and leaseback transaction with Pure Industrial Real Estate Trust (PIRET) (TSX:AAR.UN) involving a portfolio of four of its properties. The all cash transaction of $135.7 million, which includes two facilities in each of Montreal and Toronto, will result in a pre-tax gain of $70 million. The group of properties included in the transaction announced today represents less than 20% of the net book value of TFI's total real estate portfolio.

"This transaction underlines our continuous efforts to unlock shareholder value," stated Alain Bédard, Chairman, President and Chief Executive Officer of TFI International. "Through this sale, we believe TFI has realized market value for these real estate assets. PIRET is an excellent partner of ours, and these are outstanding properties that we will continue to operate from for the long term. The proceeds of the transaction will be deployed where we expect to achieve the highest returns for our shareholders."

ABOUT TFI INTERNATIONAL

TFI International Inc. is a North American leader in the transportation and logistics industry, operating across the United States, Canada and Mexico through its subsidiaries. TFI International creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned operating subsidiaries. Under the TFI International umbrella, companies benefit from financial and operational resources to build their businesses and increase their efficiency. TFI International companies service the following segments:

TFI International Inc. is publicly traded on the Toronto Stock Exchange (TSX:TFII) and the OTCQX marketplace in the U.S. (OTCQX:TFIFF). For more information, visit http://www.tfiintl.com.

FORWARD-LOOKING STATEMENTS

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of TFI International. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for TFI International's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.


These press releases may also interest you

at 01:30
Newgen Software, a global provider of banking software solutions, today announced its participation as a gold sponsor at the 2nd Annual Middle East NXT Banking Summit to be held at Habtoor Grand Resort - Dubai, UAE from 25th-26th September 2018....

22 sep 2018
NEW YORK, Sept. 22, 2018 /PRNewswire-PRWeb/ -- Change Capital is pleased to announce that they have provided funding to support the growth plans of a Kissimmee, Florida based sign language services provider. Founded in 1992, the woman/minority-owned...

22 sep 2018
Note: All times local   Montréal, Quebec 1:30 p.m. The Prime Minister will attend the welcoming ceremony with military honours for Prime Minister of Spain Pedro Sánchez. The Royal Canadian Hussars Armoury 4185 chemin de la Côte-des-Neiges Notes for...

22 sep 2018
In the aftermath of the windstorm and tornado in the Ottawa-Gatineau area on September 21, Insurance Bureau of Canada (IBC) is reaching out with tips and advice for those who are affected. "Our thoughts are with all...

22 sep 2018
Desjardins Group has teamed up with the Canadian Red Cross and made a donation of $50,000 to provide relief for heavy winds victims in Gatineau. Desjardins has customized solutions to provide financial relief to members and help them through this...

22 sep 2018
Today, on Sept. 22, the inclusive online Global People's Summit in New York will be 'joined' by millions of people, including President of the General Assembly, H.E. Maria Fernanda Espinosa of Ecuador. The Global People's Summit avoids the typical...




News published on 4 october 2017 at 16:33 and distributed by: