Attica Group’s board approved the merger by absorption of Cretan coastal shipping company ANEK Lines. The deal is subject to shareholders’ approval by the both companies. 

The merger by absorption of ANEK will occur at an exchange ratio of one common or preference share of ANEK to 0.1217 new common registered shares of Attica. 

Attica will issue some 27.36 million new common shares at a nominal value of 0.30 euros each, raising Attica’s share capital by 8.2 million euros.