A British entrepreneur has bought almost nine per cent of Tigne Point and Manoel Island developers MIDI plc, a stake previously held by Bank of Valletta.
Mark Andrew Weingard bought more than 19 million ordinary shares in the company, representing 8.92 per cent shareholding.
BOV's share sale means it has now disposed of all its shareholding in MIDI plc.
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MIDI plc shares were trading at 0.33c today, which would make Mr Weingard's investment valued at some €6.27 million. BOV's statement announcing the share sale made no mention of share price.
Mr Weingard has invested heavily in Malta over the past few years, with most of his projects focused on Valletta.
The entrepreneur, who survived 9/11, the Bali bombing and Thailand's 2004 tsunami, had previously crossed paths with MIDI plc after the company signed a joint venture with one of his companies to develop a 14,000 square metre business centre at Tigne Point.