Hellenic Carriers move to delist from the London Stock Exchange is nearly complete.
Faith Holdings, the vehicle used by Hellenic CEO Fotini Karamanli to reprivatise the line, has moved to make its offer for Hellenic Carriers unconditional having received the support of more than 90% of shareholders to take over the shipowner.
Faith first announced its intention to buy back all of Hellenic’s shares on May 25 and since then 92% of shareholders have accepted the offer made. The unconditional offer for the remaining shares will now remain open until July 15.
Hellenic Carriers operates a fleet comprising one panamax bulk carrier, two supramaxes and two kamsarmaxes.
A number of other Greek owners in the desperate dry bulk space have also sought to delist in recent months.