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Marfin Investment Group Holdings SA Announces Approval Of Sale Of Olympic Air To Aegean Airlines SA By Τhe European Competition Commission


Wednesday, 9 Oct 2013 06:51am EDT 

Marfin Investment Group Holdings SA (MIG) announced that the European Competition Commission (DG Comp) has approved the sale of Olympic Air to Aegean Airlines SA. The relevant transfer of shares is expected to be completed within the next two weeks, following which Olympic Air becomes a subsidiary of Aegean Airlines. In addition, both Olympic Air and Aegean Airlines brands will be used in parallel, whilst each company will retain its distinct flight operations and fleet. The total transaction consideration is EUR 72 million paid in cash, of which an amount EUR 20 million has been already paid. 

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