Marfin Investment Group

Today’s (7/29) session was a session of tight trading and lack of risk appetite on the Athens Stock Exchange, which returned to negative territory under the “weight” of dividend cuts, mainly from National Bank. Despite the losses, contact was maintained with 1,470 points, with the General Index closing off the daily lows.

The Greek stock market began Monday’s (29/7) session down, in a week that starts with the National Bank’s dividend cut, followed by crucial announcements on the results of heavyweight listed companies.

The exchange agreement between Marfin Investment Group (MIG) and Strix Holdings was signed on Friday, whereby the former gives the latter Attica Group shares corresponding to 79.4% of the shipping company's share capital, against loans of 443.8 million euros of MIG held by Strix.

US investment fund CVC Capital is rapidly evolving into the biggest foreign investor in Greece, as it is currently in negotiations for the acquisition of an 80% stake in Ethniki, Greece's biggest insurer, for about 450-460 million euros.

CVC Capital has obtained full control of Greek food giant Vivartia through a 600-million-euro deal with owner Marfin Investment Group, following the MIG board's decision to approve the transfer.

At least four groups appear to be interested in the acquisition of Piraeus Bank's loans to Marfin Investment Group (MIG), which add up to almost 550 million euros.

Sources say that the already known suitors Emma Capital and Comer Group have been joined by a foreign private investment fund, as well as another vehicle belonging to the United Arab Emirates' state investment fund.

After hovering around Friday's closing level for most of the trading session on Monday, the stock benchmark at Athinon Avenue slipped below 920 points in the last hour-and-a-half, with blue chips such as banks experiencing selling action in the late afternoon.

G. Apostolopoulos Holdings, owner of listed Athens Medical Group, announced on Monday it has submitted a takeover bid for the entire share capital of rival Hygeia Group.

The offer, in cooperation with US fund HIG Capital International, amounts to 0.95 euros per share, bettering the 0.92-euros-per-share bid tabled by CVC.

The governing board of the Hygeia group on Wednesday rejected an offer from the holdings company of Giorgos Apostolopoulos, owner of the Athens Medical Center, for the acquisition of a 29.62 percent stake in the healthcare group.

The Apostolopoulos Group, which controls the Athens Medical Center, placed a bid on Friday for 30 percent of shares in the Athens-listed Hygeia Group.