The Carlyle Group Exits Greater China Intermodal Investments to Seaspan Corporation (Asia)

Source(s): Seaspan Corporation

Global alternative asset manager The Carlyle Group and minority shareholders have sold their combined 89 percent stake in China-based container ship owner-operator Greater China Intermodal Investments (GCI) to global shipping company Seaspan Corporation. Seaspan will acquire the stake for US$330 million in cash and US$50 million in Seaspan Series D preferred shares. Carlyle originally invested in the creation of GCI in 2011 through Carlyle Asia Partners III and Carlyle Partners V.