Ocean Network Express Pte. Ltd. (ONE) has announced the signing of agreements to acquire an additional stake in Poseidon Corp. (“Poseidon”) from certain existing shareholders.
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Poseidon is the ultimate holding company of Seaspan Corporation (“Seaspan”), the world’s largest non-operating owner of containerships. Upon the successful closing of these transactions, ONE’s total ownership stake in Poseidon will increase to 48.9%.
Jeremy Nixon, Chief Executive Officer of ONE, says, “Since our initial investment in 2023, Seaspan has achieved remarkable growth as the world’s leading tonnage platform. We are pleased to acquire this additional stake in Poseidon, which fully aligns with our ONE 2030 strategic growth plan.”
Completion of the transaction is subject to customary closing conditions, including receipt of regulatory approvals.