The Latsco Shipping Group, led by Marianna Latsis and her son, Paris Kasidokostas-Latsis, is broadening its shipping portfolio.
This group, which has a robust presence in the shipping sector through private companies specializing in tankers, bulk carriers, LNG carriers, and LPG carriers, has invested in EuroHoldings Ltd, a company listed on the American stock exchange, previously majority-owned by the Pittas family.
Specifically, EuroHoldings Ltd announced that its former major shareholders, members of the Pittas family, sold 51.04% of their common shares to the new investor at a price of $12.90 per share. The total value of this transaction for the 1,437,697 shares was approximately $18.5 million.
Additionally, Latsco has agreed to make certain cash payments in quarterly installments, contingent upon the ongoing employment of the containerships in accordance with their respective charter contracts for the M/V “Joanna” and M/V “Aegean Express.”
The Pittas family retains about 7.6% of EuroHoldings’ share capital, signifying their confidence in the company’s new direction.
“A Major Milestone for EuroHoldings”
Aristides Pittas, Chairman and CEO of EuroHoldings, remarked: “Our strategy has always been focused on finding the best way to enhance shareholder value. We strongly believe this transaction represents a major milestone for EuroHoldings, as it signals a new chapter with a highly reliable and successful company from the shipping sector acquiring a stake in us. Furthermore, the Pittas family’s continued investment underscores our belief that this strategic decision serves the best interests of our shareholders.”
