Minoan Lines (Grimaldi group) confirmation the intention to obtain the control of Hellenic Seaways



The company of Greek navigation Minoan Lines of the Neapolitan shipowning group Grimaldi has confirmed today the intention to acquire the majority of the share capital of Hellenic Seaways (HSW), marine company that work services ferry on the Greek national routes connecting Crete, the Cicladi islands, Sporadi and Saroniche, with numerous services that converge on the port of the Pireo.

Yesterday Minoan Lines has communicated to have acquired from Interamerican Group ulterior 3.037.000 sets in action of HSW, pairs to 3.91% of the capital stock, paying them beyond 4,5 million euros, that is 1,5 euros for each action, and elevating own quota in Hellenic Seaways to 37.5% of the capital, little less of 39.61% than Hellenic Seaways stopped from the bank group Piraeus Bank.

Today, addressing to the little ones and means shareholders of HSW, Minoan they have evidenced the "optimal opportunity" offered to sell to 1,5 euros per.share.

Emphasizing the results achieved during the last few years from Minoan Lines facing with success difficult challenges in the course of the been extended period of Greek economic crisis, in the course of which the company has lessened content the losses, Minoan has rimarcato that, "through the philosophy centralized on the development of the Freeways of the Sea in the Mediterranean, in the current circumstances the perspective of an acquisition of a quota majority in HSW by Minoan Lines appears to be as one of the more important strategic initiatives for the strengthening of the marine transport Greek coasting vessel, but above all - it has specified the company of the Grimaldi group - as the best possible solution for the strategic development of HSW because the routes on which they operate are Minoan Lines (Heraklion-Pireo and Greece-Italy) that HSW (Cicladi, Aegean Sea Northern, Argosaronikos) are integrated perfectly, what that allows the important exploitation synergies that they can be introduced".

Moreover Minoan has observed that integration of HSW in Minoan Lines "will carry to a positive restructure of the marine transport Greek coasting vessel through the creation of the assurance and economies of scale of a stability financial institution, with the potenziamento of the quality of the services to the passengers and the partner to competitive prices and with the maintenance of all the not gainful marine services and of the entire commercial net of the company, always in the respect of the agreements in existence with the Ministry of Marina Mercantile and the Islands".

The marine company of the Grimaldi group has emphasized also that "the level of service offered to the residents and the tourists of the Greek islands will increase meaningfully with the adoption of the elevated managerial standards of Minoan Lines".

Minoan has remembered moreover that, "on the base of the data budgetary of the 2014 publics returned, the position HSW financial institution are considered, what particularly delicate that - has found the company - returns the strengthening of the society with the resource to new capital absolutely necessary that, in the current phase of economic crisis, only a strong shareholder with a solid capital structure is able to offer. Moreover the consisting presence of Minoan Lines in the HSW share capital - it has concluded the company - will guarantee the regularity of its activity, without interruptions, and it will safeguard it so as to allow the overcoming of the economic difficulties that can happen".