Attica Holdings S.A. completed the acquisition of 50.3% stake in Hellenic Seaways Maritime S.A. from Piraeus Bank S.A. and other minority shareholders.
May 25, 2018
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Attica Holdings S.A. (ATSE:ATTICA) entered into an agreement in principle to acquire 50.3% stake in Hellenic Seaways Maritime S.A. from Piraeus Bank S.A. (ATSE:TPEIR) and other minority shareholders for 62.2 million on August 11, 2017. Under the terms of consideration, Attica Holdings will acquire 39.04 million shares of Hellenic Seaways and will pay 30.61 million in cash and will issue 24.15 million of its common stock. Under the terms of acquisition, 1.25 million common stocks of Hellenic Seaways have already been acquired by Attica Holdings for cash and rest 37.8 million common stocks will be acquired at closing. Transaction is subject to approval of the relevant regulatory and other authorities. As of April 25, 2018, Hellenic Competition Commission approved the acquisition. Following the approval, Attica Holdings will immediately proceed with implementation of the contractually agreed actions for the acquisition of 98.83% of the share capital of HSW. UBS Limited acted as financial advisor and M. & P. Bernitsas Law Offices acted as legal advisor to Attica Holdings. Lazard acted as financial advisor to Piraeus Bank S.A. (ATSE:TPEIR).
Attica Holdings S.A. (ATSE:ATTICA) completed the acquisition of 50.3% stake in Hellenic Seaways Maritime S.A. from Piraeus Bank S.A. (ATSE:TPEIR) and other minority shareholders on May 25, 2018. Part of the consideration was paid in cash through Attica Group's own funds, while the remaining amount due to the sellers paid through issuance and delivery of 24.15 million new shares of Attica Group. In line with previous announcements, Attica Group will proceed immediately with the completion of the required contractual actions to acquire an additional 48.53% of HSW's share capital from Minoan Lines S.A., which will raise its total stake at 98.83% of the share capital of HSW.
Piraeus Financial Holdings SA, formerly known as Piraeus Bank SA, is a Greece-based banking institute. It operates in the following main business segments: Retail Banking, Corporate Banking, Investment Banking, as well as Asset Management and Treasury. The Retail Banking segment includes the retail banking operations of the Bank and its subsidiaries, which are addressed to retail customers, as well as to small-medium companies, such as deposits, loans and letters of guarantee, among others. The Corporate Banking segment includes facilities related to corporate banking, provided by the Bank and its subsidiaries, addressed to maritime companies, such as syndicated loans, project financing and imports-exports, among others. The Investment Banking segment includes activities related to investment banking operations of the Bank and its subsidiaries, such as investment and advisory services, underwriting services and public listings, as well as stock exchange services, among others.
Attica Holdings S.A. completed the acquisition of 50.3% stake in Hellenic Seaways Maritime S.A. from Piraeus Bank S.A. and other minority shareholders.