ECONOMY

Eurobank capital increase sends FDI soaring

Foreign direct investment in the first seven months of 2014 exceeded 1 billion euros (almost 1.02 billion), against 235 million euros in the same period last year, Bank of Greece figures revealed on Monday.

Three-quarters of that 330 percent rise in FDI is due to Eurobank’s share capital increase earlier this year, with the participation of Capital Group Companies Inc representing 595 million euros and Fairfax putting in 146 million euros, for a total of 741 million.

Other major investments concerned Crystal Almond’s 200-million-euro stake increase in subsidiary Wind Hellas, and Consolidated Lamda Holdings’ participation in Lamda Development’s share capital increase to the tune of 78 million euros.

Portfolio investments amounted to 3.8 billion euros in the year to end-July, mainly thanks to holdings acquired in Greek companies.