Greek engineering and metallurgy group Mytilineos is eyeing a majority stake in Hellenic Shipyards in an effort to penetrate further into Greece's defense industry, a company official said. "The group is interested in acquiring a 51 percent stake in Hellenic Shipyards at Skaramanga, however, this will depend on the terms to be set by the Greek government," Vangelis Mytilineos said. "The shipyard has liabilities of 100 billion drachmas and 2,200 employees. Last week, in an amendment to a draft bill presented to parliament, Greece allowed for ETBA Bank that owns 51 percent of the shipyard to reduce its stake, opening the way for its full privatization.