Agreement between the shareholders of Aegean Airline and Olympic Air

The agreement is subject to the approval of the European Competition Commission, which is the relevant competent authority given the size and particular terms of the transaction. Until then, the exact process mechanics and associated timetable will be articulated. According to the terms of the agreement, the main shareholder of AEGEAN (Vassilakis Group) and the sole shareholder of OLYMPIC AIR (Marfin Investment Group) will have an equal shareholding in the combined entity, while the groups of Messrs Laskaridis, V. Constantakopoulos, G. David and L. Ioannou as well as Piraeus Bank will all maintain their proportional equity participations in the new company, thereby continuing to support this particularly important venture for the country.