Attica Buys Grimaldi Stake in Hellenic Seaways
By Aiswarya Lakshmi
October 29, 2017
Attica Group has announced that it reached an agreement with Minoan Lines, owned by Naples-based Grimaldi Group, for the acquisition of its 48.53 percent stake in Hellenic Seaways.
According to an announcement, the agreement provides for Attica Group to purchase Hellenic Seaways’ shares for 78.5 million euros, sell the SUPERFAST XII vessel to a member company of the Grimaldi Group for 74.5 million euros and sell the HIGHSPEED 7 vessel to Minoan Lines for 25 million euros.
Attica Group has already agreed with Piraeus Bank to acquire 50.3 percent of its own and minority shareholders’ stakes in Hellenic Seaways.
Completion of the agreement with Minoan Lines is subject to customary conditions precedent, including the receipt of approvals from the competent authorities, as required.
UBS Limited, which is authorised by the PRA and regulated by the FCA in the UK, acted as financial advisor and Bernitsas Law Firm as legal advisor exclusively for Attica Group.
