EUROHOLDINGS, a Nasdaq-listed spinoff of Greek containership owner Euroseas, has launched a review of strategic options as it evaluates the future direction of its business, reports Singapore's Splash 247.
Formed in March, the company announced that its board, chaired by Aristides Pittas, has begun a 'comprehensive review of strategic alternatives to maximize shareholder value.'
The options under consideration include a potential sale, a merger or acquisition, a business combination with another entity, or forming a strategic partnership.
Euroholdings began operations with three aging containerships transferred from Euroseas. One has since been sold at a profit.
The company currently holds $13 million in cash, carries no debt, and owns two chartered vessels: the 1,439-TEU Aegean Express (built in 1997) and the 1,732 TEU Joanna (built in 1999).
According to Pittas, both are under 'lucrative charters' for the remainder of their useful life.
Seaborne Capital Advisors has been retained to assist as a financial advisor during the review process. Euroholdings emphasised that there is no set timeline for concluding the review.
SeaNews Turkey
Formed in March, the company announced that its board, chaired by Aristides Pittas, has begun a 'comprehensive review of strategic alternatives to maximize shareholder value.'
The options under consideration include a potential sale, a merger or acquisition, a business combination with another entity, or forming a strategic partnership.
Euroholdings began operations with three aging containerships transferred from Euroseas. One has since been sold at a profit.
The company currently holds $13 million in cash, carries no debt, and owns two chartered vessels: the 1,439-TEU Aegean Express (built in 1997) and the 1,732 TEU Joanna (built in 1999).
According to Pittas, both are under 'lucrative charters' for the remainder of their useful life.
Seaborne Capital Advisors has been retained to assist as a financial advisor during the review process. Euroholdings emphasised that there is no set timeline for concluding the review.
SeaNews Turkey
