Seaspan to reorganise and diversify into power sector
The containership lessor is diversifying and entering into multi-sector asset management. It will spend $750m acquiring a leading lessor of turbines and generators in the shape of the firm APR Energy. The reorganisation is intended to help with strategic capital allocation initiatives and provide operational transparency. A new holding company, Atlas Corp, will be created, which will take in Seaspan as a subsidiary
A shareholders’ vote on the deal is expected to be held in the first quarter of 2020. However, Fairfax, the Washington Family and David Sokol, who together hold approximately 65% of outstanding Seaspan common shares, have already indicated they intend to vote in favour