Process for transfer of Elefsina shipyard to Onex continues after latest condition met

Wednesday, 08 July 2020 00:20
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Accumulated shares of the Neorion S.A. company, which controls the Elefsina Shipyard, exceeded the 51-percent mark on Tuesday, a necessary condition in a process for activating an agreement with US-based Onex and the Development Financial Corp. (DFC) for selling off the troubled industrial unit to the latter.

Specifically, a total of 53.22 percent of the shares of Neorion were accumulated.

The next process will commence Onex's restructuring plan for the shipyard, in tandem with due diligence and legal matters.

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