“Foreign investors are returning to Greece after a crisis that nearly pushed the country out of the euro, and the European Commission predicts the economy will grow for the first time in seven years in 2014. Greece’s last IPO was done by MIG Real Estate REIC in 2009. Regulators set a deadline of October 2015 for Pangaea’s IPO. Invel, a London-based real estate investment firm led by Christophoros Papachristophorou, bought a 66 percent stake in Pangaea in a December deal that valued the company at about 1 billion euros. Pangaea has since acquired real estate in Greece and Italy and currently has assets totaling 1.2 billion euros, the people said.”
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