Acquisition

    RNS Number : 8438Y
  IRF European Fin Investments Ltd
  10 July 2008
   

    IRF European Finance Investments Ltd
    10 July 2008

    IRF European Finance Investments Ltd. ('IRF' or the 'Company')

    IRF increases its stake in Marfin Investment Group ('MIG') 


    IRF is pleased to announce that it has acquired a further 9.49 million ordinary shares in MIG, an investment holding company listed on
the Athens Stock Exchange, for approximately EUR 48.8 million in cash.  The average purchase price per share was approximately EUR 5.14. 
IRF now holds 64,590,183 ordinary shares in MIG which represent approximately 8.64% of the issued share capital of MIG. 

    These investments are in line with the Company's investment strategy as approved by shareholders at the Company's recent AGM on 31 March
2008. The Company believes that such investments should enable the Company to build value for its shareholders.

    MIG invests in private equity, privatisations and infrastructure projects and principally operates in Greece, Cyprus and South East
Europe. It has a market capitalisation of approximately EUR 3.59 billion; in the financial year ended 31 December 2007, MIG had assets of
EUR 6.87 billion and made a post tax profit of EUR 330.4 million.


    For further information: 

    
 IRF European Finance Investments Ltd                           
 Angeliki Frangou        Chairperson   Tel: [phone]
                                                                
 Numis Securities Limited                  Tel: [phone]
 Nominated Adviser  Jagjit Mundi                                
                       Nick Westlake                            
 Corporate Broking        James Black                           



    About IRF

    IRF was formed to invest in the financial services industry throughout Europe. IRF's current strategy is to seek investment
opportunities in the financial sector in Europe with a primary focus in South East Europe financial institutions, investment funds and
insurance companies. These investment opportunities may include control or non-control positions in both public and private entities.  

    IRF already owns a 20.6% interest in Proton Bank S.A. ('Proton'). Proton is a full service financial services institution, including
retail and investment banking as well the provision of specialized corporate advisory and investment services. Proton is listed on the
Athens Shares Exchange under the symbol 'PRO'. For more information about Proton, please see www.proton.gr.






This information is provided by RNS
The company news service from the London Stock Exchange
 
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