Greek MIG buys 50 pct of Croat tourism group Sunce

ATHENS (Reuters) - Greek buyout firm Marfin Investment Group (MIG) (MRFr.AT: Quote, Profile, Research) bought a 50 percent stake in Croatian tourism group Sunce Koncen as part of its expansion plans, MIG said in a statement on Monday.

MIG paid 90 million euros ($141.3 million) for the stake in Sunce, which operates 11 hotels along the Adriatic coast, has a majority stake in a local airport and owns 860,000 square meters of development land, MIG said in an Athens bourse filing.

The Greek buyout firm, whose major shareholder is Dubai Financial Group, also said it reserves the right to increase its stake in Sunce to up to 75 percent within the next two years at the cost of a further 45 million euros.

"The acquisition undoubtedly covers our investment plans and is also in line with our aim to expand in the health sector," MIG executive vice-chairman Andreas Vgenopoulos said in the statement.

Sunce and MIG will jointly participate in the development of a health-tourism project in the district of Krapina and Zagorje, which will see the building of one of the region's largest complexes, including three hotels.

(Reporting by George Hatzidakis; Editing by Daniel Flynn and David Holmes)