Marfin Investment Group
|Traded as||Athex: MIG|
|Headquarters||Nea Erythraia, Greece|
|Andreas Vgenopoulos (Chairman)
Efthimios Bouloutas (CEO)
|Revenue||€2.725 billion (Q9 2015)|
|€942.21 million(Q9 2015)|
|Profit||€754.86 million(Q9 2015)|
|Total assets||€9.960 billion (Q9 2015)|
|Total equity||€5.242 billion (Q9 2015)|
|Owner||Piraeus Bank (28.5%)
Dubai Group (14.2%)
Number of employees
|12,723 (Q9 2015)|
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.
In 2006 the Dubai Group bought a 35% stake in the company. As of 31 August 2012[update], 17.28% of MIG is owned by Dubai Group. In 2006 Marfin Investment Group acquired HSBC's shares in the now-defunct Laiki Bank, establishing a strong minority share position. Subsequently, the group acquired control of Laiki, which it re-branded as Marfin Popular Bank.
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.On 22 February 2010, Olympic Air and main competitor Aegean Airlines announced they had reached an agreement to merge their operations, phasing out the Aegean brand. After an in depth inquiry by the European competitions commission, it was announced on 26 January 2011 that the merger was blocked citing anti-competitive concerns. Following a renewed attempt to sell the company to Aegean Airlines and the subsequent approval by the Competition Commissioner on 10 October 2013, the airline is, as of 23 October 2013, a full subsidiary of Aegean Airlines.
On 12 August 2014 Marfin Investment Group Holdings S.A (“MIG”) announces that it has sold its entire participation in MIG Real Estate REIC amounting to a stake 34.96% corresponding to 4,920,000 shares, to NBG Pangaea REIC for a cash consideration of €12.3m. The transaction consideration corresponds to a value of €2.50 per share, implying a premium of approximately 25% to the closing price of €2.01 per share on August 11, 2014.
On 3 July 2015, MIG announced the signing of the agreement for the sale of its stake in FAI rent-ajetAG (25,500 shares corresponding to 51% stake) and in FAI Asset Management GmbH (5,000,001 shares corresponding to 50.1% stake) to the minority shareholder Axtmann Holdings AG and to members of the Axtmann family. The transaction consideration including dividend payment is €25.2m in cash payable in instalments.
On 7 December 2015, MIG announced that, following the decision of the Board of Directors, it accepted today abinding offer from «SWISSPORT AVIAREPS HELLAS S.A.» to sell the entire stake in Skyserv Handling Services S.A. (hereinafter “Skyserv Handling Services”). The transaction consideration is €18m in cash payable in instalments, of which an amount of €10m payable upon completion of the transfer of shares and the remaining consideration payable in three (3) annual instalments.
As of December 2015, MIG's principal equity holdings consisted of:
- Attica Holdings (Attica Group) (89.4% owned)
- Hilton Cyprus (75.1% owned)
- HYGEIA (70.4% owned)
- Robne Kuće Beograd (82.7% owned)
- SingularLogic (85.7% owned)
- Sunce Koncern (bluesun Hotels & Resorts) (50.0% owned)
- Vivartia (92.1% owned)
- Barba Stathis (100% owned)
- Alesis (51% owned)
- M. Arabatzis (Elliniki Zymi) (49% owned)
- Uncle Stathis EOD Bulgaria (100% owned)
- Delta (100% owned)
- Goody's (100% owned)
- Goody's shops
- Everest (100% owned)
- Greenfood (78.97% owned)
- Hellenic Catering (98.28% owned)
- Hellenic Food Investments (52.92% owned)
- Select Nendos (31.45% owned)
- Barba Stathis (100% owned)
- A new era in Cyprus corporate history-(Cyprus Mail archive article - Thursday, September 21, 2006) 
- MIG interest in Jat Airways
- MIG - By sector. Marfininvestmentgroup.com (2009-07-23). Retrieved on 2013-08-20.
- Superfast Ferries official web site - Greece - Italy / Pireaus - Heraklion. Superfast.com. Retrieved on 2013-08-20.
- [dead link]
- Νέα δομή για την «Χαραλαμπίδης – Κρίστης» - Ant1 internet world. Ant1iwo.com (2012-09-06). Retrieved on 2013-08-20.