Latham & Watkins Advises Ocean Network Express in Additional Investment in Poseidon Corp.

Ocean Network Express Pte. Ltd. (ONE) has announced the signing of agreements to acquire an additional stake in Poseidon Corp. from certain existing shareholders. Poseidon is the ultimate holding company of Seaspan Corporation, the world’s largest non-operating owner of containerships. Upon the successful closing of these transactions, ONE’s total ownership stake in Poseidon will increase to 48.9%.

Latham & Watkins LLP represents Ocean Network Express in the transaction with a corporate deal team led by New York partners David Kurzweil and Julian Azran and New York counsel Richard Quay, with associates Victor Wang and Ebenezer Abaidoo, and assistance from Kyle Persaud. Advice was also provided on tax matters by Bay Area partner Katharine Moir, with associate Allison Esquen-Roca, and on antitrust matters by Brussels partner Philipp Studt, with associates Jérôme de Ponsay and Riccardo Danelli.