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The Grimaldi Group becomes major shareholder in MINOAN LINES
25th January 2008
Naples (Italy): Within the framework of its strategy to continuously invest in successful companies, heavily active in maritime transport, the Grimaldi Group has recently proceeded with the purchase of a substantial stake in the Greek ferry operator Minoan Lines
The operation was made through the purchase by Atlantica S.p.A. di Navigazione (part of he Grimaldi Group) of 26,71% of shares of Athens-listed Minoan Lines from Sea Star Capital plc while contemporaneously selling to the Cypriot company all the Group's participation (16,80%) in ANEK Lines.
Together with about a 3,05% stake already detained, the Grimaldi Group has now become by far the major shareholder in Minoan Lines, with close to 30% shares.
Crete-based Minoan Lines has been operating for the last 35 years regular ro/pax services between Italy and Greece (from Venice and Ancona to Corfou, Igoumenitsa and Patras) as well as between Piraeus and Heraklion in Crete.
The Grimaldi Group is particularly pleased of this transaction as Minoan Lines is a very well known and respected Greek shipping company with a good management. The Group is confident that important synergies and opportunities of cooperation can be generated with Minoan Lines, therefore further promoting the concept of the Motorways of the Sea in the whole Mediterranean basin.
Founded in 1947, the Grimaldi Group is specialised in the operation of roll-on/roll-off vessels, car carriers and ferries. It is a dedicated supplier of integrated logistics services based on maritime transport to the world's major vehicle manufacturers. Through its maritime services, the Group serves yearly over 120 ports worldwide with a modern fleet of over 100 vessels while 32 newbuildings are on order.
The Group is active in the North & South Atlantic deep sea ro/ro services while it offers the most extensive and dense network of short sea services and Motorways of the Sea in North Europe and the Mediterranean.
Grimaldi Group Press Release
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