Acquisition of MINOAN LINES stake in Hellenic Seaways by ATTICA HOLDINGS S.A.
November 15th, 2017
Kyriakides Georgopoulos Law Firm advised the listed company MINOAN LINES S.A and its major shareholder GRIMALDI GROUP in the negotiations and conclusion of a framework agreement with ATTICA HOLDINGS S.A. related to its investment in Hellenic Seaways S.A.
The parties have agreed to a number of transactions which will be completed once the relevant clearance from the Hellenic Competition Commission is obtained. The transaction involves the sale of Minoan’s 49% stake in Hellenic Seaways to Attica and the purchase of two vessels, raising the total transaction value to approx. €180 million. Once approved, the transaction is expected to rationalize the current market structure and reshape the Greek cabotage landscape in the future.
The KG team was led by partner Konstantinos Vouterakos, assisted by competition partner Anastasia Dritsa and associates Michalis Makris and Iakovos Sarmas.
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