Negotiations during the past year between the MIG investment fund and Fortress over the sale of a controlling stake in Attica Group, a major coastal shipping operator in Greece owned by the former, have concluded without an agreement, Greek newspaper Naftemporiki reports.
By all accounts, MIG will proceed with a tender process to sell the ferry boat operator, similar to the one employed to sell-off the Hygeia hospital and affiliated facilities in Athens, a transaction that yielded 204.4 million euros for MIG. The sale’s proceeds will reportedly be used to reduce MIG’s bank borrowing.
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