Piraeus Bank raises stake in MIG to 36.2%; mandatory public offering for remaining shares now pending

Piraeus Financial Holdings SA on Tuesday announced that its subsidiary, ATHEX-listed Piraeus Bank, has purchased more than 47.24 million shares of Marfin Investment Group SA (MIG).

The transaction means that Piraeus Bank, one of four systemic lenders in the country, now holds a 36.22-percent stake in MIG, and as required by law, will now launch a mandatory public offer for the latter’s remaining shares.