Dubai group to buy 33% of Marfin

Dubai Investments Group is reported to have acquired 30-33% of the capital of Marfin Financial Group at the unconfirmed price of EUR 25 per share for a deal value of EUR 400 mln, leading to the 8.5% increase in the value of Marfin shares.

Marfin, which earlier acquired a 9.98% stake in Laiki Bank at a cost of CYP 51.98 mln or EUR 90 mln has been in the news recently with industry sources antiacipating a major deal.