MIG Takes Control of Attica Group

Marfin Investment Group recently acquired through its 100 percent subsidiary, MIG shipping, a 49.9 percent stake in the Attica Group -Superfast Ferries and Blue Star Ferries- at the price of 5.50 euros per share. In total, MIG now holds a 51.3 percent stake in Attica. Pericles Panagopoulos will retain his position as chairman of Attica, while Andreas Vgenopoulos will assume the position of non-executive vice-chairman of the Company.

Mr. Panagopoulos said: “I am glad to accept to remain as chairman of the company and, following the entry of a significant shareholder such as MIG in its share capital, to leverage its renewed capacity for robust growth. The demands arising from current developments and trends in the global economy make a strategy based on cooperation and mergers necessary in order to successfully address new corporate challenges.”

Mr. Vgenopoulos added: “I thank Mr. Panagopoulos for his choice of MIG as the new majority shareholder and ally to Attica’s further expansion plans. I am confident that the company under his leadership and our strong, all-round support will continue to create considerable value for all its shareholders.”

MIG announced the buyout of the majority Attica stock is an investment in tourism and transport that will have prospects for tourism development in the eastern Mediterranean. The group anticipates a new direction whereby MIG-Attica will create new routes to connect Italy and Greece with Arab countries.