Greek MIG buys Croatian tourism group

Greek buyout firm Marfin Investment Group said it is taking a controlling stake in Croatian tourism group Sunce as part of its expansion plans.

MIG will pay 155 million euros ($237 million) for a 75 percent stake in Sunce, which operates 11 hotels along the Adriatic coast, has a majority stake in a local airport and owns 860,000 square meters of development land. “The Sunce acquisition is further testament to MIG’s regional reach and ability to source significantly value-accretive transactions for its shareholders,” MIG Executive Vice Chairman Andreas Vgenopoulos said in a statement.