Attica Holdings S.A. announces that it has contracted to sell its RoRo vessels Shield and Challenge for a total cash consideration of Euro 34,775,000. The delivery of the vessels and final payment will take place in February 2008.
The two RoRos, built in 1998 and 1999 are time chartered and trade between UK and Ireland.
At the time of conclusion of the transaction, Attica Group is expected to book capital gains of approximately Euro 3.76 mln.
The Group's cash balances are expected to increase by approximately Euro 11.08 mln after the repayment of the ships' debt and payment of various expenses related to the transaction.