Evangelos Marinakis's shipping company Capital Product Partners has completed a $1.65 billion (US) merger with tanker firm Diamond S Shipping, with the spin-off corporation entering the New York Stock Exchange.
The merger, which was more than a year in the making, was one of the biggest ever in the global shipping industry and will result in the fleets of both organisations combining.
According to shipping news outlet TradeWinds, Diamond S chief executive Craig Stevenson will lead the venture, with Capital Product founder Mr Marinakis, the owner of Nottingham Forest, holding a six percent stake.
Diamond S Shipping owns and operates 68 vessels and is one of the largest energy shipping companies, transporting crude oil, refined petroleum and other materials.
The spin-off immediately entered the New York Stock Exchange and was trading at $11 (US).
Nottingham Forest launch food bank appeal and ask fans to donate at next match
In a statement after the merger, Mr Stevenson said: "The CPLP merger provides us the scale necessary to compete at the top end of the global energy shipping business.
"In addition, we are listing in the public market at what we see as a cyclically opportune time that makes us well-positioned for future industry consolidation, with one of the world’s largest tanker fleets, a cost-efficient management platform and a sound balance sheet."
The stock exchange is a place where shares of public listed companies are traded. It is a way in which firms are able to raise funds to operate through selling shares and ownership in the firm.
Mr Marinakis is considered to be one of the most influential shipping owners in the world.
Outside of his business interests, he is the owner and president of Greek football giants Olympiacos and in 2017 he took over Nottingham Forest.
He is also well known for his philanthropy work, which has included supporting a museum in Crete and the funding of thousands of meals for people in need in Athens.
At Forest's home game with Swansea today (Saturday, March 30) fans are also being encouraged to bring food and toiletries donations for the charity Hope Nottingham, which works with 15 foodbanks across the county.
In last year's Nottinghamshire Rich List, Marinakis was said to be worth £700m making him the county's fifth richest man.
Get the most important news straight in your inbox before 9am every day - sign up to Nottinghamshire Live's newsletter. No complicated forms to fill out, just enter your email address in the black box at the top of this page.
New HMRC centre in Nottingham can 'kick start' developments across the city
Zebra Finance which helps Forest fans buy season tickets is facing 'multiple challenges'
Business nearly goes under because it's owed £24,000 from work on a Paragon Interiors project
