Marfin Joins Group Participating in Tender for Thessaloniki Water

Greek investment company Marfin Investment Group (MIG) has joined forces with Veolia Environnement and Ionios Constructions in a bid for Thessaloniki Water and Sewerage SA (EYATh). The three partners, which have formed a joint venture with Veolia owning 51%, MIG 44%, and Ionios 5%, recently announced participation in a tender to find a strategic partner for Thessaloniki Water. No further details about the new company have yet been made public.

Thessaloniki Water Supply Company and Sewerage Co. S.A. (www.eyath.gr)
Thessaloniki WSCS is the water supply and sewage provider for the Greek city of Thessaloniki, the second largest city in the country and the capital of the Macedonia region. It was established in 1998 from a merger of the city’s two separate water and sewage authorities.

In addition to its water and sewage activities, Thessaloniki is active in bio-gas production and is investigating the leasing of some of its infrastructure to carry telecommunications networks. As of 2006 the company employed in excess of 550 people, providing a daily water supply of 250 000 m3 and daily daily waste water treatment of 170 000 m3.

Marfin Investment Group (www.marfininvestmentgroup.com)
Marfin was founded in 1998 under the name Marfin E.P.E.Y., with the original investment strategy of focusing on the Greek banking sector. These investments matured and realized the formation of Marfin Popular Bank in 2006. The company divested itself of its banking assets in May 2007 and separated from Marfin Popular Bank.

Marfin’s current investment strategy is based on the principle of investing in already sound businesses with a goal of consolidating fragmented industries. Their six main sectors of investment are financial, food & beverage, healthcare, hospitality & leisure, information technology, and shipping & logistics.

Institutional investors from Dubai account for approximately 38% of Marfin shares, domestic institutional investors about 15.5%, and the remaining shares are owned by foreign institutional investors and others.