Fairfax Financial Holdings
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Greece seen on the right path
Investors and financial analysts placed Greece halfway toward converging with the most developed economies during discussions on the second day of the Delphi Economic Forum on Thursday. Mapping out the next steps after stabilization and recovery, they converged on three pillars: stable government, investment grade and investment, along with reforms.
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‘Greek banks are safer’
Greece has entered a virtuous cycle of growth, and the next few years will be especially beneficial to the economy and Greeks if political stability is maintained and business-friendly policies are implemented.
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Biggest foreign investor is ‘bullish’ on prospects
The Greek economy is "in an especially good position," local banks are "extremely well capitalized" and the country's debt will be upgraded to investment grade a few months after the elections.
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Meeting between PM, billionaire investor Watsa 'extremely cordial'
A meeting on Friday between Greek Prime Minister Kyriakos Mitsotakis and Indo-Canadian billionaire investor Prem Watsa, head of Fairfax Financial Holdings, was "extremely cordial," sources said.
Eurobank-Grivalia merger in line with state aid rules
Eurobank, Greece's third-largest lender by assets, said on Friday that its takeover of Grivalia Properties was given the green light by the European Union's competition authority because it meets state aid rules.
In November Eurobank agreed a 780-million-euro deal to buy Grivalia Properties to boost its capital and speed up the reduction of sour loans.
Prem Watsa: Make Greece business-friendly
In an interview with Kathimerini, Indo-Canadian billionaire Prem Watsa, head of Fairfax Financial Holdings, expresses optimism that Greece can achieve a strong economic recovery in the coming years.
Apart from Eurobank and Grivalia Properties REIC, a Greece-based real estate investment company, Watsa has also invested in the Eurolife ERB insurance group and other companies.
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Greece's Eurobank to acquire Grivalia Properties, source says
Eurobank, Greece's third-largest lender, will acquire real estate company Grivalia Properties, a Eurobank official told Reuters on Sunday.
The deal will be a share-swap transaction and boost the lender's capital base by about 1 billion euros ($1.13 billion), the official said without giving the value of the deal.
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Watsa to ask Athens for incentives that will attract foreign funds
The president and chief executive officer of Fairfax Financial Holdings, Prem Watsa, said on a visit to Eurobank on Monday that "Greece has strong growth potential. To unleash this, young talent must stay in the country and be provided with the know-how and financial backing they need to flourish."
Greek property company Grivalia gets $50 mln IFC loan facility
Greek real estate company Grivalia Properties has arranged a 50 million euro ($53.41 million) credit facility with the World Bank's International Finance Corporation (IFC), the IFC said on Thursday.
Grivalia will use the long-term loan facility to improve energy efficiency in its real estate portfolio and for acquisitions.
Fairfax optimistic Greece and eurozone will reach deal
Fairfax Financial Holdings, which bet on the success of a Greek turnaround last year, said on Thursday it is confident that Greece will reach a deal with its counterparts in the eurozone and remain a part of the currency bloc.