Sea Star Capital plc on Tuesday announced board approval for the sale of 6,910,490 shares of Hellenic Seaways to Piraeus Bank for 31,097,205 euros, or 8.9 pct of Hellenic Seaways’ equity capital.
Sea Star Capital, in a letter to the Cyprus Stock Exchange, said the sale will be made in cash at a price of 4.50 euros per share. The main reason behind Sea Star Capital’s decision to sell its equity stake in Hellenic Seaways was to raise capital to fund its strategic programme and to reduce debt.
News source: EMG.rs link: article
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