Fairfax Financial, the financial and investment conglomerate run by renowned value investor Prem Watsa announced last week that it has significantly increased its stake in Seaspan Corporation, the world’s largest independent containership owner operator.
Specifically, certain subsidiaries of Fairfax Financial Holdings Limited have entered into a definitive agreement to invest an additional $500 million of equity in Seaspan through the exercise of two tranches of warrants, increasing Fairfax’s total investment in Seaspan to $1 billion.
It was only a few months ago (January) that Fairfax made its first investment in the containership group investing $250 million in Seaspan via 5.5% interest bearing unsecured debentures and Class A Common Share purchase warrants.
According to...
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