Eimskipafélag Íslands hf. (ICSE:EIM) acquired 80% stake in Mareco N.V. for €16.6 million on January 24, 2017. The purchase price is subject to Mareco’s financial results for the year 2016. The transaction is financed with cash and debt. Eimskipafélag has made an agreement with Íslandsbanki for a revolving credit facility in the amount of €47 million out of which €7 million was drawn for the acquisition of Mareco. Mareco reports annual revenue of approximately €60 million and an EBITDA ratio of 5%-6%. The current management team of Mareco will retain the remaining 20% stake in Mareco and will continue to manage its operations. Baker Tilly Berk Corporate Finance B.V. acted as financial advisor for Eimskipafélag Íslands. Eimskipafélag Íslands hf. (ICSE:EIM) completed the acquisition of 80% stake in Mareco N.V. on January 24, 2017.