Kidnappers release Greek industrialist

A prominent Greek businessman who was kidnapped for ransom earlier in June was released early on Monday, police said.

George Milonas, 49, chairman of the Federation of Industries of Northern Greece and CEO of aluminium company Alumil, was snatched at gunpoint on June 10 outside his home in the northern city of Thessaloniki by unknown assailants.

"He was set free after midnight," a police official who did not want to be named said. "He is back at home sound and safe."

Police did not provide any further details on the circumstances of his release and whether ransom had been paid.

The kidnappers had asked for 50 million euros to release Milonas.

Kidnappings in Greece are rare but the country suffered a spate of assassinations of businessmen and diplomats from 1975 to 2003, mostly the work of the now-dismantled November 17 group of extreme leftist urban guerrillas.

Milonas is married with three children and has been CEO of Alumil group since 1988. The business is active throughout Greece, the Balkans, Africa and the Middle East. Trading in shares of Alumil has been suspended.