MIG HOLDINGS S.A.
Veolia Environnement and Marfin Investment Group to cooperate in Greece, Cyprus and the Balkans through "Veolia-MIG Greece"
Marfin Investment Group Holdings S.A ("MIG") and Veolia Environnement S.A ("Veolia") announce 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.
Commenting on the new agreement, Andreas Vgenopoulos, Chairman of Marfin Investment Group, stated, "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."
Commenting on the new agreement, Antoine Frerot, Chief Executive Officer of Veolia Environnement S.A. stated, "We are very pleased to partner with MIG, Greece's largest business group in this exciting new endeavour. As a leader in this promising region, MIG has continued to set an example by reaffirming its commitments to environmentally-conscious business practices. With Veolia's own expertise within the sector and MIG's unsurpassed experience in Greece, Cyprus, and the Balkans, we believe that our partnership will prove to be rewarding and fruitful."
About Veolia:
Veolia Environnement is the world leader in environmental services. With operations on every continent (more than 100 countries) and more than 336,013 employees, Veolia has been providing, for over 155 years, customized solutions to municipal and industrial customers in four complementary segments: water and sewerage, environmental services (waste management), energy services and passenger transportation. Veolia is listed on the Paris and NY stock exchanges. In 2008, Veolia Environnement recorded revenue of euro 36.2 billion and operating income in excess of euro 1.9 billion.
About MIG:
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. As a diversified group MIG has a truly global presence - with 37% of its sales outside Greece, a presence in 40 countries, and more than 22 business segments overall. MIG employs over 56,000 employees and associates.
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.
Commenting on the new agreement, Andreas Vgenopoulos, Chairman of Marfin Investment Group, stated, "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."
Commenting on the new agreement, Antoine Frerot, Chief Executive Officer of Veolia Environnement S.A. stated, "We are very pleased to partner with MIG, Greece's largest business group in this exciting new endeavour. As a leader in this promising region, MIG has continued to set an example by reaffirming its commitments to environmentally-conscious business practices. With Veolia's own expertise within the sector and MIG's unsurpassed experience in Greece, Cyprus, and the Balkans, we believe that our partnership will prove to be rewarding and fruitful."
About Veolia:
Veolia Environnement is the world leader in environmental services. With operations on every continent (more than 100 countries) and more than 336,013 employees, Veolia has been providing, for over 155 years, customized solutions to municipal and industrial customers in four complementary segments: water and sewerage, environmental services (waste management), energy services and passenger transportation. Veolia is listed on the Paris and NY stock exchanges. In 2008, Veolia Environnement recorded revenue of euro 36.2 billion and operating income in excess of euro 1.9 billion.
About MIG:
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. As a diversified group MIG has a truly global presence - with 37% of its sales outside Greece, a presence in 40 countries, and more than 22 business segments overall. MIG employs over 56,000 employees and associates.