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12 August 2022 The on-line newspaper devoted to the world of transports 07:38 GMT+2

August 5, 2022

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Original news
Atlas Corp. (Seaspan and APR Energy) received a proposal takeover

It was put forward by a consortium formed by ONE and by Atlas' largest shareholders

The British Atlas Corp., holding company that holds the entire capital of seaspan corporation, a company that owns a fleet of 132 container ships chartered and orders in progress for another 67 new container ships, and which owns the entire capital of APR Energy, a company active in the power plant segment mobile energy, announced that he had received a proposal purchase from Poseidon Acquisition Corp., a consortium made up of affiliates of the Canadian financial company Fairfax Financial Holdings and affiliates of the US group Washington, which are the main shareholders of Atlas Corp. itself with shareholdings 43.2% and 19.4% respectively (through Dennis R. Washington). The consortium also includes David Sokol, president of the board of directors of Atlas Corp., and Ocean Network Express (ONE), the containerized shipping company of Singapore consisting of the Japanese Mitsui O.S.K. Lines (MOL), Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha ("K" Line) which hold 31%, 38% and 31% of the capital.

The proposal, which is not binding, provides for two mandatory conditions: that the acquisition is recommended and approved by a dedicated committee of independent directors of the board of directors of administration and that it is approved by the holders of the majority of the company's circulating ordinary shares not owned by the consortium.

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