Grimaldi Group Buys Stake In Minoan Lines

Within the framework of its strategy to continuously invest in successful companies heavily active in maritime transport, the Grimaldi Group has recently purchased a substantial stake in the Crete-based ferry operator, Minoan Lines.

The operation was made through the purchase by Atlantica SpA di Navigazione (part of the Grimaldi Group) of 26,71 percent 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 per cent) in ANEK Lines.

Together with about a 3,05 per cent stake already detained, the Grimaldi Group has now become, by far, the major shareholder in Minoan Lines, with close to 30 percent shares.
For the past 35 years, Minoan Lines has been operating regular ro/pax services between Italy and Greece (from Venice and Ancona to Corfou, Igoumenitsa and Patras), as well as between Piraeus and Iraklion.

The Grimaldi Group is particularly pleased with 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 specialises 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 over 120 ports worldwide yearly with a modern fleet of over 100 vessels, while 32 new vessels are on order.