Attica Completes Purchase Of Strintzis

Friday, December 10, 1999
Ferry operator Attica Enterprises has completed its purchase of shares in Strintzis Lines, after a block of 14,431,090 shares were transferred on the Athens bourse at a price of 2,900 drachmas ($9) per share. The total value of the transaction reached 41.8 billion drachmas ($130 million). Following the transaction, ferry operator Attica Enterprises has a 40.22 percent controlling interest in Strintzis Lines. The two companies have a fleet of 16 ships, of which four are Superfast ferries. By the end of 2001, their combined fleet will total 28 ships, with 12 large car and passenger ferries currently under construction.
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