Attica Acquires Stake In Strintzis

Friday, September 03, 1999
Passenger shipping firm Attica Enterprises signed an agreement with shareholders of Strintzis for the acquisition of an approximate 38 percent stake in Strintzis. Under the agreement, Strintzis' shareholders will receive Attica Enterprises shares participating in a forthcoming capital increase of Attica Enterprises. Attica Enterprises will participate with five members in the nine-member board of Strintzis, while Strintzis' managing director and chairman will join Attica Enterprises' board, to be expanded for that reason by two seats to seven. The two companies aim to expand their operations into new domestic and international routes and take advantage of economies of scale and operating synergies, officials said. The transaction will be finalized after completion of due diligence and the share capital increase of Attica Enterprises, they added. Attica Enterprises officials said in less than two years' time the combined fleet of the two companies is expected to grow to 27 vessels from a current 16, of which four are superfast ferries, 10 are large car-passenger ferries and two are catamaran passenger-only ferries.
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1032 sec (10 req/sec)