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Attica Holdings purchases 48,53% stake in Hellenic Seaways

27 October 17 - RE+D Magazine
Attica Holdings purchases 48,53% stake in Hellenic Seaways

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Antulio Richetta

Director IBI Group
Attica Holdings, a subsidiary of Marfin Investment Group (MIG), agreed to the acquisition of 48.53% of the Minoan Lines stake in Hellenic Seaways (HSW) for 78.5 million euros, according to a company announcement on Thursday.

 

It also agreed to the sale of a Superfast XII ferry to a subsidiary of the Grimaldi Group (for 74.5 million euros) the sale of a Highspeed 7 ship to Minoan Lines, subsidiary of Grimaldi Group (for 25 million euros).

The completion of the agreement will need to be approved by the Greek competition committee.

The transactions will be completed upon the acquisition of HSW shares by the Attica Group. After the August 2017 acquisition of a 50.3% equity stake in HSW, Attica’s total stake in HSW will come to 98.93%.

UBS Limited acted as financial advisor and Bernitsas Law Firm as legal advisor exclusively for Attica Group, the company announcement said. In separate statements, Minoan Lines said the transaction will be of benefit to it and contribute long-term to the rationalization of the domestic seaways market and the maintenance of healthy competition levels in the sector.

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