M&A Deal Summary

Aegean Airlines Acquires Olympic Air

On October 23, 2013, Aegean Airlines acquired airliner Olympic Air from MIG Holdings for 72M EUR

Acquisition Highlights
  • This is Aegean Airlines’ 1st transaction in the Airlines sector.
  • This is Aegean Airlines’ 0th largest (disclosed) transaction.
  • This is Aegean Airlines’ 1st transaction in Greece.

M&A Deal Summary
Date 2013-10-23
Target Olympic Air
Sector Airlines
Buyer(s) Aegean Airlines
Sellers(s) MIG Holdings
Deal Type Add-on Acquisition
Deal Value 72M EUR

Target

Olympic Air

Athens, Greece
Olympic Air is a Greek airline, provides air transportation services. The company boasts one of the youngest fleets in Southeastern Europe, comprised of 32 aircraft (16 Airbus ?320 and ?319, 10 Bombardier DHC8-Q400s, 5 Bombardier DHC8-100s and 1 ATR-42). Olympic Air is based in Athens, Greece.

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Buyer(S) 1

Buyer

Aegean Airlines

Attiki, Greece
Category Company
Founded 1988
Sector Airlines
Employees3,131
Revenue 1.7B EUR (2023)
DESCRIPTION

Aegean Airlines is an airline company, that provides public airline transportation services in Greece and internationally. It transports passengers through scheduled flights, as well as cargo; and offers aviation applications, technical support, and ground handling aircraft services. Aegean Airlines was founded in 1988 and is based in Attiki, Greece.

DEAL STATS #
Overall 1 of 1
Sector (Airlines) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Greece) 1 of 1
Year (2013) 1 of 1

Seller(S) 1

SELLER

MIG Holdings

Athens, Greece
Category Private Equity Firm
Founded 1998
Size Large
Type Sector Agnostic
DESCRIPTION

MIG Holdings is a publicly traded investment firm focused on private equity-related investments, as well as investments in privatizations and infrastructure projects. The Firm looks to fund consolidations and other situations where the firm can extract value. Areas of interest include food & beverage, financial services, leisure/hospitality, shipping, IT, real estate and healthcare. MIG Holdings was initially formed in 1998 and became public in 2007. The Firm is located in Athens, Greece.

DEAL STATS #
Overall 1 of 7
Sector (Airlines) 1 of 1
Type (Add-on Acquisition) 1 of 4
Country (Greece) 1 of 7
Year (2013) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-02 Skyserv

Athens, Greece

Skyserv is a ground handling services provider in Greece, present at 37 Greek airports (out of 39 in total), offering a full spectrum of ground handling services, both in open and in restricted access services, focused on reliability, high safety standards and premium quality of service. In 2012, the company serviced approximately 82,000 flights carrying more than 10.5 million passengers. Skyserv is based in Athens, Greece.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-12 MIG Real Estate REIC

Athens, Greece

MIG Real Estate (former “Attica Properties”) following its strategic co-operation with MIG the Company proceeded to substantial acquisitions of commercial properties, which are leased to high-profile tenants. MIG Real Estate REIC was founded in 1999 and is based in Athens, Greece.

Sell -
Mergr

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