Investments in Green Economy | Eurobank
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Investments in Green Economy

In the context of its strategy for the support of outward-facing and "green" businesses Eurobank EFG proceeded to two significant investments in the field of “green economy.”
Specifically, Eurobank EFG:
*  acquired a minority stake of less than 5% in the company Chipita and
* in cooperation with the Laskarides Group, through the joint venture SINDA ENTERPRISES COMPANY LIMITED, acquired 40% of the shares of Mesogeos, one of the leading Greek companies in the sector of water management, solid and liquid waste management.
The strategy of the Eurobank EFG group, within the current economic adversity, focuses on active and effective support, through minority participations and long-term financing of dynamic export-oriented businesses and companies that invest in environmentally friendly technologies and activities.
In this context, the Group’s subsidiary Eurobank EFG Equities, through its Division of Eurobank Equity Partners, is planning a series of investments in highly competitive companies with positive outward-looking growth prospects and a strong presence in the "green" field of the economy. Its aim is to boost dynamic businesses, not only with capital injections but also with expertise, thus contributing to their efforts to extend their activities. Together with private-sector investors, Eurobank EFG is leading the effort to strengthen the competitiveness of the Greek economy and overcome the crisis and recession.
Chipita is one of the largest Greek export enterprises in the food sector, active in 34 countries, with sales of € 515 million in 2009, a strong presence in the U.S. and a leading position in Eastern Europe. Chipita, whose board the, was acquired by the Olayan Group and its founder Mr. Spyros Theodoropoulos, by secession from the Vivartia group. The SEE Fund of Global Finance also participates in the investment. Deputy CEO of Eurobank EFG, Mr. Nikolaos Karamouzis, will join Chipita’s board of directors as a member.

Mesogeos operates in the planning and execution of projects and services across the spectrum of environmental protection. It boasts a special expertise in building and operating landfills, mechanical-biological waste treatment plants, seawater desalination and wastewater treatment plants. Some of the major projects undertaken by Mesogeos include the construction and operation of a seawater desalination plant in Paphos, Cyprus, the construction and operation of a biological urban waste drying plant and a waste disposal area in Heraklion, Crete, the construction of the landfills of Grammatikos-Attica and Ioannina, and the construction a landfill in Galati, Romania.
The waste management industry is expected to show strong growth in coming years due to the lack of adequate waste management infrastructure to meet current needs and to Greece's obligation to comply with the EU directive. The amount of relevant investments required by 2015 is estimated at € 5 billion. Mesogeos will hold a leading role in the industry's development.
The Chairman of Eurobank EFG Equities, Mr. Costas Mitropoulos, noted, “Our Group is committed to supporting the extroverted firms leading the Greek economy to growth. By investing in Chipita, one of the fastest growing Greek companies and Mesogeos, a leader in area of waste management, our Group turns this commitment into action. We believe that such investments contribute to the efforts to restore our economy and rebuild confidence, attracting the interest of the investment community."