Fairfax to invest $500 mln more in container business Seaspan
Fairfax Financial Holdings has agreed to invest an additional US$500 million in Seaspan Corp (NYSE: SSW), a Hong Kong-based provider of container shipping liners. The transaction, which will increase Fairfax's total investment to US$1 billion, will be accomplished through the exercise of 77 million warrants. Seaspan Chairman David Sokol said the deal supports the company's strategy to drive consolidation in the global containership sector and leverage other opportunities in the shipping sector and "beyond it." Fairfax, a Toronto-based holding company, is led by Canadian billionaire Prem Watsa.
31 May 2018•5 mins read
