News / ONE becomes joint-owner of Seaspan Corp in $11bn takeover

Credit Utoc Corp

Japanese carrier Ocean Network Express (ONE) has become joint-owner of the world’s largest non-operating containership owner, Seaspan Corp, in a $10.9bn deal.

In an announcement of the completion of the acquisition of Seaspan parent Atlas Corp, by Poseidon Acquisition Corp, ONE and partners, ONE said it now owned 28.7% of the now private company.

Trading of the common shares on the New York Stock Exchange will be suspended with immediate effect. But Atlas preferred shares will remain outstanding and continue to trade.

According ...