Takeover of troubled ANEK by Attica Group is approved

The Competition Commission has unanimously approved the takeover of troubled ferry company ANEK Lines by Attica Group.

Attica Group will take on some €80 million in ANEK debt and will give the Cretan company's shareholders shares equal to an 11.5% stake in the group. After deliberating for 10 months, the commission decided that ANEK is a failing company.

This means that the merger will not require any cutbacks in services.