Restis to enter ferry sector through Sea Star Capital

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jan 2008

The Restis Group of companies, mainly focused in shipping investments and through entities like Golden Energy and E.S.T. (Enterprises Shipping and Trading) has confirmed its participation in the share capital increase by Sea Star Capital, the Cyprus-based ferry service transportation company, which in turn controls a strategic stake of 32.5% in ANEK Lines, one of Hellas' major passenger-shipping companies, mainly active in Piraeus-Crete routes. Restis now controls a significant stake in Sea Star which raised a total of 125 million euros. Victor Restis' participation stood at 20 million euros and was justified by the shipping magnate's firm belief that Sea Star's potential increase in value, through its involvement in Mediterannean passenger shipping sector. Furthermore, this move also highlights the strategic alliance between Restis and the Vardinoyiannis family, which through Ioannis Vardinoyannis is another major stakeholder of Sea Star. Other investors include shipowner G.Frangos.