Marfin Investment and Veolia create “Veolia-MIG Greece” to expand in Albania, South Estern Balkan region

Athens, Dec 2؍arfin Investment Group Holdings S.A (“MIG”) and Veolia Environment S.A (“Veolia”) announced that they have signed a Memorandum of Understanding (“MoU”) to create a new joint venture company to be named “Veolia-MIG Greece”, to jointly and exclusively pursue environmental, energy and transportation/logistics projects in Greece and Cyprus.
Under the MoU, Veolia will hold a 51% stake in the company while MIG will hold the remaining 49%.
The new company will pursue activities relating to management of water, wastewater, and waste; development and operation of energy production facilities of both renewable and traditional sources; and also activities relating to logistics and transportation services.
“Veolia-MIG Greece” will be active in Greece, Cyprus, Albania, Croatia, Serbia, FYROM and Montenegro.
“In response to the emerging global trends for environmentally-friendly driven growth, MIG is committed to pursuing “green economy” investment opportunities. We believe that through this joint venture, Veolia and MIG stand to benefit immensely from each other’s unique insights and knowledge of the particular areas of business and geographies involved. We are delighted to be working with Veolia, the world’s largest environmental services company, and believe that this strengthened relationship will result in great co-operation for many years to come,” Andreas Vgenopoulos, Chairman of Marfin Investment Group, said upon the new agreement.
Veolia Environment is the world leader in environmental services with
operations on every continent (more than 100 countries) and more than 336,013 employees. In 2008, Veolia Environment recorded revenue of 36.2 billion euro and operating income in excess of 1.9 billion.
Marfin Investment Group Holdings S.A. is an international investment holding
company based in Greece and throughout Southeastern Europe. MIG is quoted on the Athens stock exchange and has a portfolio of leading companies in mainly defensive sectors across the SEE region, grouped into Food & Dairy, Transportation, Healthcare, Financial Institutions, IT/Telecoms, and Private Equity sectors. With 37% of its sales outside Greece, MIG is present in 40 countries and employs over 56,000 employees and associates.