Newsletter View

Newsletter February 2010

FDI GREECE

Foreign Capital Inflows Remain Promising
Nine month 2009 total at 2.3 billion Euro

Foreign capital inflows in Greece (net inflows) for the first nine months of 2009 reached 2.3 billion Euro, what many analysts believe to be a satisfactory level in light of the global economic slow down in FDI during the worst economic crisis in almost 100 years.

As the global economic crisis continued throughout 2009, Greece’s foreign capital inflows reached 2.3 billion Euro throughout Q3, a level only slightly lower than that of 2008. The FDI trend during the last six years has been favourable overall, with deviations considered to be a normal occurrence; more so during financial turmoil.

The sectors to which FDI was directed during the first nine months of 2009 were post-telecom (41%), financial organisations (33%), trade (7%), real estate (7%), tourism (3%) followed education and health, insurance and chemical products.

FDI – INFLOWS IN GREECE IN 2009, Q1-Q3
AT COMPANY LEVEL

Most significant FDI-Inflows at company level:

January 2009
                                                                                                                                                                                                                                                                     Inflow of €75 million  from the Austrian company "Hofer KG" for its participation in the capital increase of "Aldi Hellas Supermarket Holding Ltd."

March 2009
Inflow of €64 million for the completion of the acquisition of Lamda Development by HSBC Property Invest (Luxembourg).

April 2009
Inflow of  €661 million for the participation of Crédit Agricole S.A. (France) in the capital increase of Emporiki Bank.
Inflow of €111 million by Dubai Financial Limited (UAE), which acquired the stake of Commerzbank AG (7.74%) in the share capital of MIG.

May 2009
Inflow of €152 million for the participation of Crédit Agricole SA (France) in the capital increase of Emporiki Bank, as a result of which the French company’s stake rose to 82.48%.

Inflow of €55 million for the participation of Hofer KG (Austria) in the capital increase of Aldi Hellas Supermarket LP.

June 2009
Inflow of €95 million for the acquisition of 50% of the company HERON II VIOTIA THERMOELECTRIC STATION SA by the Dutch company ELECTRABEL INTERNATIONAL.

July 2009
Inflow of €673 million for the increase in the participation of DEUTSCHE TELEKOM AG in the share capital of the Hellenic Telecommunications Organisation (OTE) from 25% to 30%.

August 2009
Inflow of €60 million for the participation of Hofer KG (Austria) in the share capital increase of Aldi Hellas Supermarket LP.

November 2009
Inflow of €29 million for the participation of the German company "Ergo International" in the share capital increase of "Victoria Insurance S.A."

FDI inflows in Greece during the period 2003-2008 & Jan- Oct 2009 (in Million Euros)




Source: Bank of Greece 2009