An agreement, in principle, was announced on Thursday for debt-laden Elefsis (Elefsina) Shipyard, west of Piraeus, with the solution involving application of article 106b of Greece's bankruptcy code, a process that, however, must receive the approval of a majority of the unit's shareholders, and the future assumption of management by the Onex Group.
Onex already operates the Syros shipyard on the same-name Cyclades island.
The agreement was announced after a meeting between relevant development minister Adonis Georgiadis and Onex Group president Panagiotis Xenokostas.
