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 statement 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) as well as the sale of a Highspeed 7 ship to Minoan Lines, subsidiary of Grimaldi Group (for 25 million euros).
The completion of the deal will need to be approved by the Greek competition committee.
The transactions will be finished 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 mentioned.
In separate statements, Minoan Lines noted 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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Source: ANA-MPA
