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Aegean Airlines SA Completes Acquisition Of Olympic Air From Marfin Investment Group Holdings SA


Wednesday, 23 Oct 2013 08:52am EDT 

Aegean Airlines SA (AEGEAN) announced that on October 23, 2013 it has signed a definitive agreement with Marfin Investment Group Holdings SA to acquire Olympic Air. The transfer of 100% of Olympic Air shares was completed the same day. The consideration of 100% of Olympic Air has been set at EUR 72 million in cash to be paid in installments. Τhe amount of EUR 20 million has already been advanced on October 22, 2012 and the remainder would be payable in five equal annual installments, the first of which was paid on October 23, 2013. Upon completion of this transaction, Olympic Air becomes an AEGEAN’s subsidiary, with the latter assuming also the management of the company. 

Company Quote

6.24
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9:19am EDT