Greece’s Marfin seen eyeing Serbia’s JAT for merger with Olympic Air

Greece’s Marfin Investment Group is interested in buying Serbia’s JAT national carrier for merger with Olympic Air, the domestic Blic newspaper reported."It is not unexpected that Marfin group wishes to buy the Serbian airline. After the purchase of Greek Olympic...

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Greece’s Marfin seen eyeing Serbia’s JAT for merger with Olympic Air



Marko Subotic in Belgrade - 24.11.2009

Greece’s Marfin Investment Group is interested in buying Serbia’s JAT national carrier for merger with Olympic Air, the domestic Blic newspaper reported.

"It is not unexpected that Marfin group wishes to buy the Serbian airline. After the purchase of Greek Olympic airlines it was only a matter of days before they would start to expand to other markets,” an unnamed source close to Marfin told the newspaper.
      
“After the purchase of JAT, Marfin plans to merge the firm with Olympic, and thus create a strong regional company, which will then move into associated markets and conquer neighboring countries.”
        
After last year's failed privatization, the future of JAT (www.jat.com), which reported a 2009 nine-month operating loss of 11 million euros, has been uncertain.

Marfin Group (www.marfininvestmentgroup.com) entered the Serbian market through Marfin Bank and the purchase of retail chain RK Beograd (www.rkbeograd.rs).

Source: Balkans.com Business News


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