Elefsis Shipyards: Passed On ONEX Property

A new era for Elefsis Shipyards from Tuesday (07.07.2020) as the helm and the recovery of their financial soundness has been undertaken by the company ONEX, as announced by the Ministry of Development and Investment.

The Agreement has now been finalised between ONEX Development Financial Corporation (DFC) and the old shareholders of the company "NEORION" S.A. which control Elefsis Shipyards in particular Mr. N. Tavoularis, I. Stephanou, Fot. Kolokytha, Ev. Panoutsopoulos, Ath. Athanasiadis, D. Kalligeri, I. Kostourou, Ch. Kostourou, I. Alevizos, Nikiforakis and the Kokkala family.
As it became known, 53.22% was collected, exceeding the required 51% rate, and from 7 July, ONEX undertakes the Elefsis Shipyard for financial recovery, due diligence (economic control) and the other legal procedures.

In a statement, the Minister responsible, Adonis Georgiadis, pointed out that "The Ministry of Development and Investment will be the custodian of this agreement with the aim in the coming months of completing the resolution process in accordance with Article 106 ND in order to end the workers' odyssey and to revive the shipbuilding industry in Greece. The Minister responsible for Industry, Mr Nikos Papathanasis said that, I thank all the signatories for the constructive spirit with which they have handled this case and, for their hard work. We immediately bring in the Parliament , together with the Minister of National Defence, Mr Nikos Panagiotopoulos, a legislative provision extention of the current regime in order the Navy's programme to continue smoothly and to raise no concern whatsoever for the shipyard workers".

Source: www.capital.gr