Canadian investment firm Fairfax Financial said on Tuesday it had agreed to a $1.91 billion sale of part of its stake in Poseidon Corporation, the parent company of marine and energy asset owner Atlas Corp and shipping operator Seaspan.
Fairfax will sell 67.6 million shares in Poseidon for $28.30 each.
The sold stake represents 23.3 per cent of the total issued and outstanding common shares of Poseidon, an investment vehicle which bought Atlas Corporation in 2023.
Buyers include an existing Poseidon shareholder and two new investors.
After the sale, Fairfax expects to hold a 22.1 per cent stake in Poseidon, along with 12 million Series J preferred shares of Atlas.
The sale is expected to close in the second quarter of 2026.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Shreya Biswas)
