Yangzijiang Shipbuilding completes 10% stake purchase in Poseidon

This forms part of a broader transaction involving up to 34% of Poseidon.

Yangzijiang Shipbuilding (Holdings) Ltd. has completed its acquisition of a 10% stake in Poseidon Corp., according to an SGX filing dated 29 May.

The company said completion follows conditional share purchase agreements signed on 10 March 2026.

The stake is held by affiliates of Fairfax Financial Holdings and the Washington Family.

Following completion, Poseidon has become an associated company of the Yangzijiang group.

The consideration was fully satisfied in cash and funded using internal resources, the company said. No change in terms was disclosed at completion.

Yangzijiang said it has entered into a second amended and restated shareholders’ agreement with other Poseidon shareholders, setting out post-completion rights and obligations.

The group previously announced in March 2026 that it would acquire the 10% interest for about $1.05b as part of a broader transaction involving up to 34% of Poseidon.

An independent valuation by Kroll (HK) Limited had valued the stake at between $840.4m and $1.03b.

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Yangzijiang Shipbuilding Holdings

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