MIG Holdings S.A. (also known as MIG) is a

Greek Greek may refer to: Anything of, from, or related to Greece, a country in Southern Europe: *Greeks, an ethnic group *Greek language, a branch of the Indo-European language family **Proto-Greek language, the assumed last common ancestor of all kno ...

investment company An investment company is a financial institution principally engaged in holding, managing and investing securities. These companies in the United States are regulated by the U.S. Securities and Exchange Commission and must be registered under th ...

. It has acquired several companies and has changed name several times since. 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 The Athens Stock Exchange (ASE or ATHEX; , ''Chrimatistírio Athinón'') is the stock exchange of Greece, based in the capital city of Athens. It was founded in 1876. There are currently five markets operating in ATHEX: regulated securities mark ...

History

Finance history

In 2006 the

Dubai Group Dubai Group (Arabic: مجموعة دبي) is an Emirati investment company based in the United Arab Emirates, and a subsidiary of Dubai Holding. The company was founded in 2000 as the Investment Office, and was renamed Dubai Group in 2005. Throu ...

bought a 35% stake in the company. , 17.28% of MIG is owned by

. In 2006 Marfin Investment Group acquired HSBC's shares in the now-defunct

Laiki Bank Cyprus Popular Bank (from 2006 to 2011 known as Marfin Popular Bank (MPB)) was the second-largest banking group in Cyprus behind the Bank of Cyprus until it was 'shuttered' in March 2013 and split into two parts. The 'good' Cypriot part was mer ...

, establishing a strong minority share position. Subsequently, the group acquired control of Laiki, which it re-branded as

Marfin Popular Bank Cyprus Popular Bank (from 2006 to 2011 known as Marfin Popular Bank (MPB)) was the second-largest banking group in Cyprus behind the Bank of Cyprus until it was 'shuttered' in March 2013 and split into two parts. The 'good' Cypriot part was mer ...

. On 17 March 2008, MIG announced it sold its 20% of

telecommunications company OTE to

Deutsche Telekom Deutsche Telekom AG (, ; often just Telekom, DTAG or DT; stylised as ·T·) is a partially state-owned German telecommunications company headquartered in Bonn and the largest telecommunications provider in Europe by revenue. It was formed in 199 ...

. On 6 March 2009, MIG won the deal to acquire

Olympic Airlines Olympic Airlines (, ''Olympiakés Aerogrammés'' – OA), formerly named Olympic Airways, was the flag carrier airline of Greece. The airline's head office was located in Athens. The airline operated services to 37 domestic destinations and ...

making it a private airline. The airline was renamed

Olympic Air Olympic Air S.A. () is a regional airline and a subsidiary of the Greece, Greek carrier Aegean Airlines. It was formed as part of the privatization of the former Greek national carrier Olympic Airlines, a company that carried the name Olympic A ...

soon after. On 22 February 2010, Olympic Air and main competitor

Aegean Airlines Aegean Airlines S.A. (legal name , ''Aeroporía Aigaíou'' ) is the flag carrier of Greece and the largest Greek airline by total number of passengers carried, by number of destinations served, and by fleet size. A Star Alliance member since Jun ...

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 anticompetitive 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

. In December 2009, MIG announced their intention in purchasing

Serbia , image_flag = Flag of Serbia.svg , national_motto = , image_coat = Coat of arms of Serbia.svg , national_anthem = () , image_map = , map_caption = Location of Serbia (gree ...

n airline

Jat Airways Jat Airways (stylized as JatAirways; sh-Latn-Cyrl, separator=" / ", Jat ervejz, Јат ервејз) was the national flag carrier and largest airline of Socialist Federal Republic of Yugoslavia, Yugoslavia and later Serbia and Montenegro and ...

with an eventual merger with

Arson attack on Athens branch

On May 5, 2010 during anti-austerity demonstrations, an arson attack by unidentified perpetrators took place against the bank's branch on Stadiou Street, Athens. 3 people died and in a trial that ended in 2013, several people in management positions were found guilty of the negligent homicide of three employees, the bodily harm of 21 other employees, and multiple lapses in fire safety measures and training of the staff.

Holdings

As of 2023, MIG's principal equity holdings consisted of:) *

Robne kuće Beograd Robne kuće Beograd ( sr-cyr, Робне куће Београд; Anglicized: Department Stores Belgrade) is a chain of department stores across Serbia, with headquarters in Belgrade. History Robne kuće Beograd company was founded in 1965 and so ...

(83.11% owned)

References

External links

* {{Athex 20 companies Financial services companies established in 1998 Private equity firms of Greece Greek brands Companies listed on the Athens Exchange