Anek makes grab for Hellenic

Greek ferry operator Anek Lines is to make a EUR 80m ($101m) bid for the 33.3% stake in rival operator Hellenic Seaways being sold by Minoan Lines.

Backing up newspaper reports from earlier in the week, Anek confirmed it was currently carrying out due diligence of the ferry company and intended to submit the offer on completion of the process.

The company's offer of EUR 3.20 per share easily trumps the two outstandingbids for the holding. Nel Lines confirmed in August it would offer EUR 2.90 per share, while shipowner Panayiotis Laskarides is expected to bid slightly above that at EUR 2.95 to EUR 3.00 per share.

Greek newspaper Imerisia has claimed however that Minoan will be pushing for EUR 90m ($115m) for the stake, equivalent to EUR 3.50 per share.

Formerly known as Hellas Flying Dolphins, and before that Minoan Flying Dolphins, Hellenic Seaways bills itself as the 'largest marine fleet in Greece'. It operates 34 vessels in total, including 16 conventional ferries and 18 high-speed ferries.