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Grimaldi cleared to take over all Finnlines shares

The Grimaldi Group has obtained approval from Finnish authorities to take over the remaining small percentage of shares in Finnlines and will now buy out the minority shareholders, the group informs in a statement.

Photo: Finnlines

Italy's Grimaldi Group has gradually increased its stake in Finnlines over the years and currently owns a total 98.22 percent of the Finnish RoRo carrier including the shipping company's subsidiaries. Now, the minority shareholders will be bought out, the group informs in a corporate statement.

"Grimaldi has initiated redemption proceedings in accordance with Chapter 18 of the Finnish Companies Act to acquire all the shares in Finnlines," the group writes.

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