Latsis Family Expands Investments in Greek Economy

The Latsis family office has made a significant investment in the Greek economy, acquiring a 10% stake in Attiki Odos, the country's busiest toll road. This move further solidifies the Latsis family's position as a major player in the Greek shipping and investment landscape.

The family office, controlled by Marianna Latsis of Latsco Shipping, purchased the stake from GEK Terna, a construction firm in which they already hold a 7.6% interest. GEK Terna had recently secured a 25-year concession for Attiki Odos, a crucial infrastructure project connecting Athens airport to the city's western and southern suburbs.

While the exact amount spent on the acquisition remains undisclosed, it is undoubtedly substantial, reflecting the Latsis family's confidence in the Greek economy's growth potential.

This investment aligns with a broader trend of Greek shipping magnates expanding their interests beyond the maritime sector. Other notable investments include George Procopiou's €500 million commitment to the Ellinikon development project and Vassilis Laliotis' purchase of a private school in the same area.

Additionally, shipping partners Dimitris Bakos and George Kaimenakis have acquired control of Attica Bank, while Marios Iliopoulos has invested in the AEK Athens football club. Evangelos Marinakis and his son, Miltiadis, have also expanded their sports holdings by acquiring a controlling stake in the Portuguese club Rio Ave.

The Latsis family's latest investment in Attiki Odos underscores the increasing confidence of Greek shipowners in their country's economic recovery and the potential for lucrative onshore opportunities. As the Greek economy continues to rebound, prominent shipping families are likely to make more such investments.