CVC Capital could take over Vivartia peers

US investment fund CVC Capital is rapidly evolving into the biggest foreign investor in Greece, as it is currently in negotiations for the acquisition of an 80% stake in Ethniki, Greece's biggest insurer, for about 450-460 million euros.

Having already agreed to buy out Vivartia from Marfin Investment Group for €600 million in cash and debt, it is preparing to expand its exposure in Greece by about €1 billion. This should be added to the existing investments it has implemented in this country over the last four years, including the acquisition of the Hygeia group in a €200 million deal, the hospitals Metropolitan, Iaso General, Mitera and Lito, as well as a series of marinas bought by Turkish group Dogus and its holding in e-commerce platform Skroutz.gr.

If Ethniki is also acquired, the fund will raise its exposure in Greece to €1.5 billion, matching the investment of...