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Travel & Tourism industry news by Greek Travel Pages (gtp)

Minoan’s Clout in Hellenic Seaways Grows

Photo source: Minoan Lines

Photo source: Minoan Lines

Aiming to boost its presence in the Aegean transportation sector by gaining a majority stake in Hellenic SeaWays (HSW), Greek shipping giant Minoan Lines acquired over 4.5 million euros, or 3.91 percent, of total share capital in HSW, which formerly belonged to Interamerican Group, the company announced this week.

The move comes in view of the increasing tourist flow and the dropping oil prices.

A Grimaldi Group company, Minoan Lines said it was currently conducting transactions for the purchase of Hellenic Seaways shares owned by investors/minority shareholders.

The shipping giant is aiming to take over HSW by adding 12.6 percent of shares to its existing 37.5 percent stake.

Hellenic Seaways operates passenger and freight ferry services in the Aegean and Adriatic Seas.

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