Piraeus Bank raises its stake in MIG to 36.22%

Piraeus Financial Holdings on Tuesday announced that its subsidiary Piraeus Bank purchased 47,242,062 shares of Marfin Investment Group SA (MIG), raising its equity stake in the group to 340,308,728 shares or 36.22% of its equity capital.

Following this development, Piraeus Bank will launch a mandatory public offer for the remaining shares of MIG.

In an announcement, Piraeus Financial Holdings said this move was part of a long-term strategy to achieve synergies in its holdings portfolio and to maximize returns to its shareholders.