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Seaspan mulls buying over Great China Investments Intermodal

Seaspan mulls buying over Great China Investments Intermodal
Seaspan Corp is mulling buying over Great China Intermodal Investments (GCI), and investment partnership it has with the Carlyle Group and others.

Seaspan said it had agreed with GCI and Blue Water Commerce to extend its first right of refusal agreement for one year until 31 March 2016. Under the agreement Seaspan has first right of refusal on containership investments by GCI and first offer for certain containership sales by the investment vehichle.

The Vancouver-based shipowner is considering the option of buying out the other parties.

“In connection with the extensions of these agreements, Seaspan's board of directors authorised its conflicts committee, composed entirely of independent directors, to consider strategic options in regard to Seaspan's investment in GCI, including a potential acquisition of GCI by Seaspan,” the company said.