Attica Holdings S.A. announces that it has today contracted to sell to Veolia Transport its ice-class Ro-Pax vessel Superfast X trading between Scotland and Belgium for a total cash consideration of Euro 112 million. The delivery of Superfast X and final payment will take place at the beginning of 2007.
At the time of conclusion of the transaction, Attica Group is expected to book capital gains of approximately Euro 14 mln. The Group's cash balances are expected to increase by approximately Euro 45 mln after the repayment of the ship's debt of Euro 65 mln and payment of various expenses related to the transaction.
Attica Group plans to use its cash balances mainly for the purpose of acquiring suitable tonnage to cover current and future requirements of cargo and passenger traffic.
Attica Group intends to replace Superfast X on the Rosyth-Zeebrugge service.