Singapore's Ocean Network Express (ONE) has signed a agreement with certain shareholders of Poseidon Corp., including Fairfax Financial Holdings, to acquire an additional stake in the which is the holding company of Seaspan Corporation that owns the largest fleet of container ships chartered consisting of over 220 ships. With acquisition, ONE's stake in Poseidon will rise to 48,9%.

Fairfax Financial Holdings announced that it has agreed to together with some affiliates the sale of 67.6 million shares of Poseidon at a unit price of 28.30 US dollars, for a total of about $1.91 billion. The company has specified that the shares were sold through separate agreements to a current shareholder of Poseidon, namely ONE, which has decided to to increase its shareholding, which has been over 37.8 million shares sold and to two new investors strategic assets, to which 9.9 million and Approximately 19.9 million shares. Following the sale of the shares, representing approximately 23.2% of the total ordinary shares issued and in circulation of Poseidon, Fairfax would maintain a shareholding of approximately 22.1% of the ordinary shares issued and outstanding shares as well as 12 million shares of Series J in the capital of Atlas Corp., a wholly owned company controlled by Poseidon.