Attica Group Completes Acquisition of 50.30% of Hellenic Seaways

Photo source: Hellenic Seaways

Attica Holdings (Attica Group) on Friday announced the completion of the acquisition of a majority stake in Greek ferry operator Hellenic Seaways (HSW).

The acquisition followed an agreement with Piraeus Bank and another minority shareholder of HSW for the purchase of a total of 37,789,833 shares of HSW for a total consideration of 69.07 million euros.

Attica Group already owned 1.61 percent of HSW’s share capital through its 100 percent subsidiary Blue Star Ferries SA. Following the latest acquisition, the total number of shares held by Attica Group is 39,039,833 shares, or 50.30 percent of HSW’s share capital.

“Attica Group will proceed immediately with the completion of the required contractual actions to acquire an additional 48.53 percent of HSW’s share capital from Minoan Lines SA, which will raise its total stake at 98.83 percent of the share capital of HSW,” the Group said in an announcement.

In late April, Greece’s competition authority approved the acquisition of sole control over HSW by Attica Group.

Attica Group is a subsidiary of Marfin Investment Group.