SALES AGREEMENT OF THE OPERATION IN MOROCCO

• Sale of the 49% stake in Africa Morocco Links (AML) and of the two vessels
  Morocco Star and Highspeed 3
• The total consideration amounts to €49m and the net profit is expected to
  exceed €21m.

ATTICA HOLDINGS S.A. announces that it has reached a binding agreement with Stena Line Holding BV, for the sale of its stake in Africa Morocco Link (AML). The agreement concerns the 49% shareholding stake of Attica Group in AML, as well as the 2 vessels Morocco Star and Highspeed 3, owned by subsidiaries of Attica Group and which are related to the specific operation.

The total consideration amounts to €49m while the net profit is expected to exceed €21m and will be included in the Group’s financial results upon completion of the transaction.

AML was founded in 2016 by Attica Group and Bank of Africa, οne of the largest bank institutions in Morocco. Shortly after its foundation, AML managed to be established as one of the most prominent players in its market.

The CEO of Attica Group, Panos Dikaios, stated: “The agreement for the sale of our operation in Morocco, is within the context of our strategic planning for reallocation of our resources towards our core business in view of our continuous investments for fleet renewal and green transition.The transaction price portrays the successful completion of this business venture and crystalizes the value accretion for our Group”.

The agreement is subject to finalisation of the transaction contractual documents, as well as to the approval of the Moroccan Competition Commission.

Link to the original press release of Attica Group.

Text & Picture ©: Attica Group