Dry CargoEurope

Karamanli close to completing privatisation of Hellenic Carriers

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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