Marfin Investment Group
Encyclopedia
Marfin Investment Group (also known as MIG) is a Greek
investment company
created in 1998 as Marfin Α.Ε.Π.Ε.Υ.. It has acquired several companies and has changed name several times since. In 2001 it acquired Piraeus Prime Bank and was renamed Marfin Bank. In 2004 it took the name Marfin Financial Group following the triple merger of Comm Group, Marfin Classic Α.Ε.Ε.Χ and Maritime and Financial Investments.
Its shares are currently listed on the Athens Stock Exchange
.
bought a 35% stake in the company.
On 17 March 2008, MIG announced it sold its 20% of Greek
telecommunications company OTE
to Deutsche Telekom
.
On 6 March 2009, MIG won the deal to acquire Olympic Airlines
making it a private airline. The airline was renamed Olympic Air
soon after.
In December 2009, MIG announced their intention in purchasing Serbia
n airline Jat Airways
with an eventual merger with Olympic Air
.
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
investment company
Investment company
An investment company is a company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of its shareholders who in turn share in the profits and losses....
created in 1998 as Marfin Α.Ε.Π.Ε.Υ.. It has acquired several companies and has changed name several times since. In 2001 it acquired Piraeus Prime Bank and was renamed Marfin Bank. In 2004 it took the name Marfin Financial Group following the triple merger of Comm Group, Marfin Classic Α.Ε.Ε.Χ and Maritime and Financial Investments.
Its shares are currently listed on the Athens Stock Exchange
Athens Stock Exchange
The Athens Stock Exchange or ASE or ATHEX is a stock exchange located in Athens, Greece.-History:The Athens Stock Exchange started trading in 1876. The Athens Stock Exchange is a subsidiary of Hellenic Exchanges S.A., whose shares are listed in ATHEX...
.
History
In 2006 the Dubai GroupDubai Group
Dubai Group is an investment company based in the United Arab Emirates, and a subsidiary of Dubai Holding. Originally founded in 2000 as The Investment Office, the company was renamed Dubai Group in 2005...
bought a 35% stake in the company.
On 17 March 2008, MIG announced it sold its 20% of Greek
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
telecommunications company OTE
OTE
Hellenic Telecommunications Organization S.A. , usually known by its Greek initials OTE, is the dominant telecommunications provider in Greece. Formerly a state-owned monopoly, OTE was part-privatized in 1998 and is now listed on the Athens and New York Stock Exchanges...
to Deutsche Telekom
Deutsche Telekom
Deutsche Telekom AG is a telecommunications company headquartered in Bonn, Germany. It is the largest telecommunications company in Europe....
.
On 6 March 2009, MIG won the deal to acquire Olympic Airlines
Olympic Airlines
Olympic Airlines was the flag carrier airline of Greece, with its head office in Athens. It operated services to 37 domestic destinations and to 32 destinations world-wide. Its main base was at Athens International Airport, with hubs at Thessaloniki International Airport, "Macedonia" and Rhodes...
making it a private airline. The airline was renamed Olympic Air
Olympic Air
Olympic Air is the largest Greek airline by destinations served, formed from the privatisation of the former national carrier Olympic Airlines. Olympic Air commenced limited operations on 29 September 2009, after Olympic Airlines ceased all operations, with the official full-scale opening of the...
soon after.
In December 2009, MIG announced their intention in purchasing Serbia
Serbia
Serbia , officially the Republic of Serbia , is a landlocked country located at the crossroads of Central and Southeast Europe, covering the southern part of the Carpathian basin and the central part of the Balkans...
n airline Jat Airways
Jat Airways
Jat Airways is the national airline of Serbia and the former national airline of Yugoslavia, and has its head office in the Jat Airways Business Center in Belgrade. It was established in 1927 as Aeroput, making it currently one of the world's oldest airlines still in operation...
with an eventual merger with Olympic Air
Olympic Air
Olympic Air is the largest Greek airline by destinations served, formed from the privatisation of the former national carrier Olympic Airlines. Olympic Air commenced limited operations on 29 September 2009, after Olympic Airlines ceased all operations, with the official full-scale opening of the...
.
Holdings
At the end of 2010, MIG's principal equity holdings consisted of:- Olympic Air GroupOlympic AirOlympic Air is the largest Greek airline by destinations served, formed from the privatisation of the former national carrier Olympic Airlines. Olympic Air commenced limited operations on 29 September 2009, after Olympic Airlines ceased all operations, with the official full-scale opening of the...
(100%) - VivartiaVivartiaVivartia is a food production conglomerate brand in Greece. It is the 35th largest European company. Vivartia was formed by the merger of Delta Holding S.A. and Mechelany International S.A...
(91.2%) with it´s Diary & Drinks Division (DELTADeltaDelta commonly refers to:* Delta , Δ or δ in the Greek alphabet, also used as a mathematical symbol* River delta, a landform at the mouth of a river* Delta Air Lines, a major U.S...
/ΔΕΛΤΑ), Food Services and Entertainment Division (Goody´s, flocafeFlocaféFlocafé is a Greek franchise coffee house chain and belongs to Vivartia, a nutrition conglomerate brand that owns several similar franchises. It opened its first outlet in Athens in 1994 and now operates over 70 coffee houses in Greece, Cyprus and on several cruise ships.In 2006 it held a 10.2% of...
, Hellenic Catering) and the Frozen Food Division (Barba Stathis/Μπάρμπα Στάθης, Chrysi Zymi/Χρυσής Ζύμης) - Attica GroupAttica GroupAttica Holdings S.A. is an operator of international ferry services in Europe. The Group’s main operations are with its subsidiary Superfast Ferries which began in 1995 with the launch of its first ships, Superfast I & Superfast II...
(88.8%) - Robne kuće Beograd (80.2%)
- HiltonHilton HotelsHilton Hotels & Resorts is an international chain of full-service hotels and resorts founded by Conrad Hilton and now owned by Hilton Worldwide. Hilton hotels are either owned by, managed by, or franchised to independent operators by Hilton Worldwide. Hilton Hotels became the first coast-to-coast...
Cyprus (75.1%) - SingularLogic (63.2%)
- FAI rent-a-jet (51.0%)
- Bluesun Hotels & Resorts (50.0%)
- Hygeia Group (48.3%)
- MIG Real Estate (40.1%)