Attica Group Acquires Full Control of Hellenic Seaways

Minoan Lines has announced that its agreement with Attica Holdings (Attica Group) has been completed, with the latter now owning the majority stake in Greek ferry operator Hellenic Seaways (HSW).

The agreement dated 26/10/2017 includes the following additional transactions: Τhe acquisition from Minoan of 37,667,504 shares in HSW representing 48.53 percent of its share capital for the sum of 78,500,000 euros; the sale by HSW of the Highspeed 7 vessel to Minoan Lines for the sum of 25,000,000 euros and the sale by Attica Group of the Superfast XII vessel for the sum of 74,500,000 euros to a Grimaldi Group company.

Commenting on news, Minoan Lines said in a statement that the deal will further strengthen the company’s liquidity as well as its financial standing while creating the conditions for healthy growth with its active involvement in new lines. Minoan went on to note that the aforementioned transactions will not affect the company’s financial results.

Attica Group, a member of the Marfin Investment Group, with the acquisition of Piraeus Bank’s share, holds full control (98.83 percent) of HSW.