MIG buys into IT company

Shares in SingularLogic jumped more than 6 percent on the Athens bourse yesterday after news that Marfin Investment Group (MIG) will take a majority stake in the Greek IT company. MIG announced it will buy a 57.8 percent stake in SingularLogic, which provides software and integrated IT solutions, for 3.08 euros per share through its subsidiary MIG Technology Holdings. The news sent shares in SingularLogic 6.81 percent higher to 2.98 euros, bringing its total market value to 129.7 million euros. The price is 55 percent higher than the share’s average price over the last six months, SingularLogic said in a bourse filing, adding that it has decided to merge with MIG Technology Holdings. Trading in the IT company’s shares had resumed yesterday after being suspended last week. Meanwhile, the Athens Exchange’s benchmark general index advanced 2.61 percent to 2,423.96 points.