Akin Gump Advises Global Ship Lease Chairman in Strategic Combination with Poseidon Containers
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(New York) – Global Ship Lease, Inc., and Poseidon Containers Holdings LLC and K&T Marine LLC (together “Poseidon Containers”), announced today that they had closed their previously announced stock-for-stock merger. Akin Gump advised Global Ship Lease’s chairman, Michael S. Gross, and his affiliates in the transaction.
The combined company will have a fleet of 38 vessels with a total capacity of 198,793 twenty-foot equivalent (TEU), and, as of September 30, 2018, an average fleet age weighted by TEU of 10.7 years. With the recently announced new charters, it will have contracted revenue of approximately $720 million.
The Akin Gump deal team was led by corporate partner Alice Hsu. It also included investment management partner Jason Daniel, cross-border transactions counsel Jonathan Pico and corporate senior practice attorney William Wetmore.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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