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.