Stelios Sells easyCruise To Hellenic Seaways

Lloyd’s List:

Serial entrepreneur Stelios Haji-Ioannou has sold his boutique cruise operation easyCruise to Greece’s largest coastal ferry company, Hellenic Seaways.

Confirmation of the deal has been issued by Hellenic Seaways but as of Thursday afternoon there was no report on the website of Sea Star Capital, the Cyprus-listed shipping vehicle that controls the Greek ferry giant.

Last month Mr Haji-Ioannou bought into a Sea Star share increase, taking about €9m ($12.6m) worth of stock, and the group was at pains this week to underline he will remain involved at a high level.

Lloyd’s List has been told that under the deal the flat consideration for the business was €7.5m but this could not immediately be confirmed.

Details of the acquisition remained scarce, but executives at easyCruise in Athens said there is a franchising element for which easyGroup will get compensation.