Attica Group on Friday afternoon announced that it has reached a tentative agreement with Greek lender Piraeus bank and minority shareholders for the purchase of 50.3 percent of Hellenic Seaways.
Attica Group, a subsidiary of Marfin Investment Group, controls the coastal shipping operators Superfast Ferries and Blue Star Ferries, both of whom enjoy dominating positions in Greek waters and on the Greece-Italy routes.
The agreement, in principle, cites a purchase of a little more than 39.039 million Hellenic Seaways for 30.61 million euros in cash. Attica Group will then issue 24.145,523 new common shares by completing a share capital increase.
The deal awaits an approval by regulatory and other relevant authorities.
UBS Limited served as Attica Group's financial consultant.