It is reported that ATLAS, the parent company of Seaspan, the world's largest container ship, announced that it has reached a final agreement with the consortium Poseidon Acquisition Corp.. According to this agreement, Poseidon will acquire Atlas in a full cash transaction, with an enterprise value of about $ 10.9 billion.

The acquisition is a privatized acquisition offer, which means that the public listed ATLAS will delist from the New York Stock Exchange.

ATLAS is a leading global asset management company with two wholly -owned subsidiaries of SEASPAN and professional energy solution suppliers Apr Energy. Seaspan manages 134 container ships and 67 new shipbuilding orders. The company's capacity is expected to reach 2 million TEU in the next few years.

The Poseidon consortium is composed of a number of subsidiaries of the shipping company ONE, the Washington Family, the chairman of the ATLAS board of directors David Sokol, and the Fairfax Financial Holdings Limited.

According to the agreement, the consortium will acquire all the issued ordinary shares issued by the Fairfax, Washington Family and David SOKOL shares per share for $ 15.50 per share. At present, the Fairfax, Washington family and Sokol hold a total of about 68%of ATLAS issued ordinary shares.

Chen Bing, President and CEO of ATLAS, said: "ATLAS will continue to develop its long -term strategic partnership and differentiated business model to enable the company to achieve sustainable and high -quality growth. Let's talk about these exciting vertices. "

The transaction is expected to be completed in the first half of 2023, but it is necessary to obtain the approval of most ATLAS ordinary shares of the non -Poseidon consortium and its subsidiaries, and meet certain transaction completion conditions, including the approval of the regulatory authorities and third parties to the third party. Agreement of the organization. sea freight

After the transaction is completed, ATLAS ordinary shares will stop trading on the New York Stock Exchange, and ATLAS Preferred Shares will continue to be traded on the New York Stock Exchange in accordance with the current terms.

The Washington family and Fairfax will hold most of ATLAS's equity. Chen Bing will continue to serve as the president and CEO of ATLAS, and will contribute to its equity in ATLAS, together with Poseidon to become the owner of the company.

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