Latsis affiliated company to buy 51.04% stake in Pittas-led EuroHoldings

Latsis family, a Greek shipping family notable for its great wealth and charitable activities, has agreed to buy 51.04% of EuroHoldings outstanding common shares, a US-listed owner of two feeder containership vessels.

The Nasdaq-listed containership company EuroHoldings has announced that certain shareholders, all associated with the Pittas family, have entered into a stock purchase agreement and sold 51.04% of the company’s outstanding common shares to Marla Investments Inc., a company affiliated with the Latsis family.

The members of the Pittas family retained an approximately 7.6% ownership interest in the company immediately after the closing of the deal.

The company has been asked by the sellers and the purchaser to facilitate the transfer of the sale and purchase of the shares by agreeing to amend the company shareholders’ rights plan to permit the purchaser to become the beneficial owner of more than 15% of the company’s issued and outstanding common shares, to consider two persons suggested by the purchaser to fill vacancies on the company’s board of directors, and to enter into a registration rights agreement with the purchaser relating to the acquired shares.

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