ITEL &lt;ITEL> COMPLETES FLEXI-VAN ACQUISITION

  Itel Corp said it completed the
  previously announced purchase of the container fleet and
  certain related assets of Flexi-Van Leasing Inc for about 130
  mln dlrs cash and marketable securities, 30 mln dlrs in notes,
  three mln shares of newly issued Itel common and assumption of
  certain liabilities.
      The company said it obtained financing from a syndicate of
  major banks for 150 mln dlrs.
  

