Italy's Grimaldi Group has agreed to sell its entire minority stake in Hellenic Seaways (HSW), effectively admitting defeat in a long and bitter struggle to take control of the Greek ferry company.
Grimaldi's Greek subsidiary Minoan Lines announced today on the Athens bourse it agreed to sell its 48,53% stake in HSW for EUR78.5m ($91.8m).
The buyer is Greece's Attica's Group, which in August won out in a key tender to acquire a 50.3%
