BUSINESS

Chatsworth joins investment in Elefsis Shipyards

ILIAS BELLOS

TAGS: Business

US investment firm Chatsworth Securities LLC has agreed with Onex Elefsis Shipyards LLC to participate in an investment of up to $400 million euros over the course of 15 years in the shipyards of Elefsina, western Attica, as part of efforts to save the complex from bankruptcy.

Besides the stake it is obtaining in Onex Elefsis Shipyards, New York-based Chatsworth Securities is becoming its institutional credit partner, according to the deal signed last Friday.

Onex has agreed with the owners of Greece’s second largest shipyards to undertake 100 percent of Elefsis as a strategic investor.

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