The majority share of Nasdaq’s listed EuroHoldings Ltd was sold to Latsis’ Marla Investments in an agreement between certain shareholders, all associated with the Pittas family who 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. Members of the Pittas family retained an approximately 7.6% ownership interest in the Company immediately after the closing of the Transaction.
No shares of the Company were issued in the Transaction. The consideration for the 1,437,697 shares sold was approximately $12.90 per share in cash. In addition, the Purchaser agreed to pay the Sellers certain amounts in cash payable quarterly in arrears, subject to the continued employment of the Company’s containerships M/V “Joanna” and M/V “Aegean Express” beyond their minimum employment period under their respective charter contracts. In connection with the Transaction, two members of the Board, Messrs. Aristides P. Pittas and Dr. Anastasios (Tasos) Aslidis have resigned.
Eurobulk Ltd, Eurochart S.A. and their affiliates will continue to provide executive, commercial and technical management services to the Company. The Company’s existing management team will remain in place following the Transaction.
George Margaronis and Christos Triantafillidis were appointed to fill the vacancies on the Board created.
Aristides J. Pittas, Chairman, President and CEO of EuroHoldings commented: “Our strategy has always been focused on pursuing the best path forward to enhance shareholder value. We strongly believe that this Transaction represents a significant milestone in EuroHoldings’ evolution as it marks a new beginning with a highly reputable and successful shipping sponsor as a shareholder of the Company. Furthermore, members of the Pittas family retain ownership in the Company which demonstrates our conviction that this strategic decision is for the benefit of shareholders.”
George Margaronis, Vice President of Marla Investments Inc. commented: “With a presence in shipping of over 80 years, the Latsis family is excited that it has consummated its first transaction that relates to the U.S. public markets, to complement its other public and private investments in a variety of sectors and countries. As a new director of the company, I personally look forward to working closely with the Company’s experienced management team and my fellow members of the board of directors.” About EuroHoldings Ltd EuroHoldings Ltd was incorporated on March 20, 2024 under the laws of the Republic of the Marshall Islands. The Company was incorporated by Euroseas Ltd. (NASDAQ: ESEA) to serve as the holding company of three of its vessel-owning subsidiaries. Shares of EuroHoldings Ltd were distributed to Euroseas Ltd. shareholders on March 17, 2025.
EuroHoldings Ltd has a fleet of two feeder containership vessels with a cargo capacity of 40,882 dwt, or 3,171 teu.
ELNAVI Newsletter
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.