MIG to sell Hygeia Group to CVC Capital Partners for 204.4 mln euros

Marfin Investment Group MIG announced the signing of an agreement to sell its equity stake in Hygeia Group to Hellenic Healthcare CVC for 204.4 million euros.
 In an announcement, MIG said it has received a new binding and no restrictions improved offer from Hellenic Healthcare SARL (controlled by CVC Capital Partners) for the purchase of 215,189,466 shares or 70.38 pct of Hygeia Group, owned by MIG. The new improved offer was 0.95 euro per share or 204,429,933 euros (valuing the company at 290,455,814 euros).
 A MIG board extraordinary meeting, assessed the new offer by Hellenic Healthcare SARL along with a non-binding offer by G.Apostolopoulos Holdings SA, at the presence its financial advisor in the sale, Rothschild.
 G.Apostolopoulos Holdings SA had offered 0.95 euro per share based on a non-binding funding by H.I.G Capital International and asked for an additional period of six-eight weeks to complete an audit control of Hygeia and an exclusive two months period to get final approvals.
 MIG said the decision was taken based on the criterion of servicing the company's interests. The transaction needs approval by MIG's shareholders and Greek competition authority.

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