Application for the application of preventive measures against her Marfin Investment Group (MIG)to suspend the decision of its board of directors, filed a scheme of shareholders of a listed company headed by a shipowner Marios Iliopoulos. Market circles point to the “freeze” of the MIG general meeting scheduled to resume on Friday at 6:00 pm as the obvious target of this action.

A general meeting was called to ratify an agreement to swap about $440 million of MIG’s debt held by STRIX Holdings for shares held by MIG in the shipping company Attica Group (79.38%). Marios Iliopoulos controls the shipping line of Seajets, Attica’s main competitor. Attica is in the process of being taken over by another large but financially struggling Greek shipping company, ANEK. A development that, according to the information, the Seajets influencer wants to prevent or, conversely, improve the position of his own shipping line.

Having recently collected 12.99% of the share capital of MIG, together with his partners with whom he works, as they competently declared consistency, he owns more than 5% and is therefore entitled to seek injunctive relief. They will be discussed this morning in the single court of first instance in Athens. However, legal circles believe that since he does not own at least 20% of the voting rights, he cannot demand, as he did, an administrative review of the actions of the MIG administration for fiscal years 2020, 2021, 2022 and 2022. to date, alleging violations of the law.

By opposing the agreement between MIG and its creditors and implicitly but explicitly against the takeover of ANEK by Attica, Marios Iliopoulos entered into an open confrontation with Piraeus Bank, which has significant stakes in all of the aforementioned companies. Piraeus Bank reacted immediately and recently increased its stake in MIG from about 32% to 53.8440% yesterday Wednesday, while at the same time issuing a mandatory public offer to acquire the remaining shares.

However, the resumption of the MIG Extraordinary General Meeting tomorrow Friday, as it takes place after the requests for deferment made by the Iliopoulos side, will be held with the voting rights held by the shareholders when it began three weeks ago (02/13/2023). However, it is estimated that it does not have the votes needed to block the decision, and therefore it is trying to stop the general meeting and the adoption of decisions affecting the ownership status of its main competitor in the Aegean, Attica Group, with a writ.

It is worth noting that the takeover of ANEK by Attica will create, according to Shippax analysts, a shipping group that will become the second in the world in terms of passenger traffic, the fifth in the number of garage kilometers and the fifth in terms of total tonnage.