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Greek investment group Marfin (MIG) is to turn to international arbitrators in an attempt to recover 824 million euros ($1.09 billion) from Cyprus over the winding down of Laiki Bank reports Kathimerini.
MIG lost its stake in the Cypriot bank after it was shut down under the terms of a 10-billion-euro bailout deal for Cyprus, which was agreed with international lenders in March.
The Greek group's investment in Laiki had already been diluted when the bank was nationalized in mid-2012 after its capital base was hit by a writedown in Greek government debt, to which it was heavily exposed.
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