Private equity groups, Warburg Pincus and Vestar Capital Partners, will acquire container leasing company, Triton Container International, Financial Times reports. The deal values Triton’s equity at about $1 billion and the company is valued at about $3 billion, including debt.

The transaction is likely to close within this month. Triton is being advised by Bank of America Merrill Lynch, adds The Wall Street Journal.

Click here for the story from Financial Times.

Click here for the additional coverage from The Wall Street Journal.