Billionaire investor Aristotelis Mistakidis on Thursday completed the financial transaction to assume control of Greece’s bank Aegean Baltic Bank from a group controlled by shipowner Ioannis Koustas and minority shareholders.
The transaction valued the bank at 1.1 times its book value. The family of founder and CEO Theodoros Afthonidis remains in the share capital of Aegean Baltic with a 27.5% stake.
Shipowner Nikolas Tsakos also remains in the share capital, with a smaller percentage. The Afthonidis family maintains the management, with Tasos Afthonidis taking over.
