ECONOMY

MIG takes 49 percent of Sunce

Buyout fund Marfin Investment Group (MIG) has agreed to buy a 49.9 percent stake in Croatian tourism group Sunce for 90 million euros as part of plans to boost revenues from the tourism sector. Sunce, one of the largest Croatian groups in the tourism and leisure sector, owns and operates 11 hotels with a total of 2,247 rooms. «This transaction undoubtedly meets our investment criteria and overlaps with one of MIG’s stated key sectors, healthcare,» said MIG’s executive vice chairman, Andreas Vgenopoulos. The Croatian group also owns a 91 percent stake in a public-private partnership with the county of Krapina, northern Croatia, for the development of a large healthcare tourism complex that includes two hospitals and three hotels. MIG, with stakes in the food, information technology and shipping sectors, has the right to increase its participation in Sunce to 75 percent for an additional 45 million euros.