Consistent to its strategy which foresees focus on the core activities of the Group and utilization of non-core activities and assets, ELLAKTOR has proceeded, through its subsidiary “Hellenic Energy & Development (HE&D) S.A.”, to the signing of a Share Purchase Agreement for the stake it owns in the power production and supply company “Elpedison S.A.”.
More specifically, in accordance with the European Parliament and Council Regulation (EC) 596/2014 and the Athens Stock Exchange, it is notified that a Share Purchase Agreement (SPA) was signed on Wednesday 19.06.2019 between ELLAKTOR’s subsidiary, “Hellenic Energy & Development (HE&D) S.A.”, “ELVALHALCOR S.A.” and “Elpedison BV”, for the purchase by the latter of the shares in “Elpedison S.A.” which the two former companies hold.
The Share Purchase Agreement provides for the sale of 2,265,141 shares of “Elpedison S.A.” (22.73% of Share Capital) by “Hellenic Energy & Development S.A.” to “Elpedison BV” for a total amount of eighteen million seven hundred seventy five thousand three hundred thirty six euros (18,775,336 euros).
The sale/transfer of the shares will take place (Closing) immediately after the fulfillment of the Conditions Precedent set out by the aforementioned Share Purchase Agreement, which relate to third party consents.
Referring to the aforementioned Agreement, Mr. Anastassios Kallitsantsis, CEO of ELLAKTOR Group, stated:
“Steadily and methodically we proceed with implementing the strategy we presented almost a year ago to our shareholders during the Annual General Meeting. By utilizing in an efficient manner non-core activities and assets, we create the conditions for further focus on core activities of the Group and for strengthening our presence in sectors where ELLAKTOR has a leading position. As a result we manage to concentrate our available resources and our undivided attention on activities which contribute the most to the creation of value for our Group’s shareholders”.
About ELLAKTOR Group
ELLAKTOR Group is the largest infrastructure group in Greece and one of the leading in South-East Europe, with international presence and a diversified portfolio of activities focusing on construction, concessions, waste management, renewable energy and real estate development. With operations in 30 countries and nearly 7,500 direct employees and associates in Greece and 5,500 abroad, the Group generates a €1.85 billion turnover by combining its 70 years of expertise with the latest of modern technologies to breathe life into projects that accelerate growth and improve the quality of life of communities across the world. Possessing significant experience in the most complex and demanding projects, ELLAKTOR Group is ranked 81st among the top 100 global manufacturing groups (Global Powers of Construction 2017, Deloitte).