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Dubai Investment Group to buy 31.5 pct of Greece's Marfin FG for 25 eur/share |
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3/18/2006 8:42:02 AM |
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ATHENS (AFX) - Dubai Investment Group will acquire 31.5 pct of Greece's Marfin Financial Group for 25 eur per share, making it the company's major shareholder, according to a statement from Marfin, confirming what sources told Euro2day Newswire yesterday.
Marfin said it has been officially notified that Dubai Financial LLC, a subsidiary of Dubai Investment Group, intends to acquire the 31.5 pct stake and has signed a sale and purchase agreement.
The agreement will be finalised within two months and is subject to financial and legal due diligence and regulatory approval.
Dubai Investment Group is the global financial investor of Dubai Holding, and manages a diversified and rapidly expanding portfolio of direct and indirect investments. It focuses on key sectors including financials, industrials, telecommunications and hotels.
Marfin Financial Group is a holding company with investments in the banking and financial services sector. It is listed on the Athens Stock Exchange with a current capitalization in excess of 1.25 bln eur. Its main subsidiaries are two fully controlled and managed Greek banks, Marfin Bank and the Investment Bank of Greece.
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