The CIT Group, Inc. provides global financing and leasing capital for companies in more than 30 industries, offering vendor, equipment, commercial, factoring, consumer and structured financing capabilities. At December 31, 2000, the Company had $54.9 billion of managed assets and $6.0 billion of stockholders' equity. At this same date, The Dai-Ichi Kangyo Bank, Limited (DKB) owned approximately 27% of the Company's outstanding stock, including the exchangeable shares. On March 13, 2001, Tyco International Ltd., a diversified manufacturing and service company, and CIT announced a definitive agreement, whereby, Tyco will acquire CIT. As part of this transaction, Tyco has entered into a purchase agreement with DKB for their approximate 27% interest.
(Source: 10-K) – less – More from ZoomInfo »