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Tuesday, September 16, 2014

Sale of storage company PODS being explored -sources, (NYSE: BCS)

PODS Enterprises Inc, a U.S. moving and storage company managed by members of the private equity firm Eagle Merchant Partners, is exploring a sale that could value it at around $1 billion, including debt, according to people familiar with the matter.PODS Enterprises, overseen by partners of Atlanta-based Eagle Merchant and owned by restructured Bahraini investment firm Arcapita Bank BSCC, has hired Barclays Plc to assist with the sale process, one of the sources said.The sources asked not to be identified because the discussions are private. Spokespeople for PODS Enterprises and Eagle Merchant had no immediate comment. Barclays declined to comment.Founded in 1998, PODS Enterprises delivers containers to customers who use them for moving or storing belongings. It operates in 48 U.S. states, Canada, Australia and Britain through its company-owned and franchise network.

Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS traded higher by 0.07% or $0.01/share to $15.10. In the past year, the shares have traded as low as $13.96 and as high as $19.59. On average, 3037110 shares of BCS exchange hands on a given day and today's volume is recorded at 3672660.