Tiphook grows with Teutonic 0.6 m takeover
2nd May 1987, Page 16
2nd May 1987
Page 16
Page 16, 2nd May 1987
— Tiphook grows with Teutonic 0.6 m takeover
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• Container rental and transport group Tiphook is extending its European base with the acquisition of the road trailer operations of TrailerVenniet, a subsidiary of the West German trailer manufacturer Schmitz Anhanger Fahrzeugban.
The acquisition will be through Dieckmann, Tiphook's newly-formed West German off-shoot which is soon to be re-named Central Trailers, Germany.
The purchase price of DM10.68 million (23.6m) will be covered by the issue of around a million new shares. The deal involves almost 400 trailers as well as office property, leases and trailer parking places.
Under the terms of the agreement the vendors have undertaken not to compete with Tiphook's German business in the trailer rental market for the next three years.