NewTimeSpace News:On March 10, 2026, Yangzijiang Shipbuilding announced that it has entered into two conditional share purchase agreements with the relevant vendors to acquire a 10% equity stake in Poseidon for a cash consideration of USD 825.7 million, with the entire funding coming from the company's internal cash resources.

According to the announcement, Poseidon is the indirect wholly-owned parent company of Seaspan Corporation, a long-standing and key customer of Yangzijiang Shipbuilding. This acquisition forms part of a broader transaction involving the sale of a 34% equity stake in Poseidon, in which Yangzijiang Shipbuilding will participate as a minority investor. Upon completion of the transaction, Yangzijiang Shipbuilding will be entitled to one board seat and relevant minority shareholder protection rights in Poseidon.

The board of directors of Yangzijiang Shipbuilding stated that this acquisition will strengthen the strategic cooperation with Seaspan, drive industrial chain integration, enable closer access to market dynamics and optimize the allocation of the company's capital.

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