Bank of Valletta sells MIDI plc shareholding to businessman Mark Weingard

BOV transfers entire 8.92% shareholding in MIDI plc to British entrepreneur behind Aziamendi 100 and Dinner In The Sky

matthew_vella
Matthew Vella
3 April 2017, 3:46pm
Mark Weingard
Mark Weingard
Bank of Valletta has announced it has sold its 8.92% shareholding in MIDI plc, the developers of Tigne Point and Manoel Island, to British entrepreneur Mark Andrew Weingard.

The 19 million shares in MIDI were sold by means of an off-exchange transaction, allowing BOV to dispose of all its shareholding in the company.

British entrepreneur Mark Weingard is a millionaire philanthropist whose life has famously had two near-misses – in New York’s 9/11 and Thailand’s 2004 tsunami. The successful derivatives trader lost his fiancée in the 9/11 attack on New York, and awoke in the middle of the tsunami of Thailand as waves rushed toward the bedroom of his beach house in Phuket.

After years travelling the world, the millionaire philanthropist adopted Malta as his home, bringing over a three-Michelin-star chef for a 100-day gastronomic experience and laying out plans for a high-end luxury hotel on Barbara Bastions.

Weingard was also listed as the beneficiary of Carragh Portfolio, a BVI company, in the Panama Papers leak of 2016. He worked for Chemical Bank [now JPMorgan Chase] and Tokai Bank [now Tokyo-Mitsubishi UFJ] as an interest-rate swap trader in London and Singapore.

He is a shareholder of Malta-registered companies Elab Holding Ltd, Iniala Holding and Iniala Santa Barbara Ltd, Iniala Management and Iniala Art & Design Ltd, Iniala Developments Asia, The Valletta Project Ltd, Ena Company Ltd, Vast Holdings Ltd, Benny Holdings and Benny Limited, Daa Daa Daa Holding and Ale Properties Ltd, Dinner In The Sky Limited, and Mid Knight Holdings.

matthew_vella
Matthew Vella is executive editor at MaltaToday.