Dubai Has No Plan to Sell Marfin Investment, Marfin Bank Stakes
May 25 (Bloomberg) -- Dubai Group LLC doesn't plan to sell its holdings in Marfin Investment Group SA and Marfin Popular Bank SA of Greece, said the investment company owned by Dubai's ruler Sheikh Mohammed Bin Rashid al-Maktoum.
"Following a meeting in Athens, Greece, Dubai Group confirmed that it does not intend to sell its stake in both Marfin Investment Group and Marfin Popular Bank," Dubai Group said today in response to questions from Bloomberg News.
"Dubai Group has nominated three of its representatives to be elected as board members in the forthcoming annual shareholders meeting of both companies and has expressed its full satisfaction and confidence for the companies' management under the leadership of Andreas Vgenopoulos," it said.
Dubai Group owns 17.8 percent of Marfin Investment and has a 17.3 percent stake in Marfin Popular, according to Bloomberg data.
source: sfgate.com
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