Global investment firm Covalis Capital LLP has raised its stake in the Public Power Corp. (PPC), an ATHEX-listed power utility in Greece, to 5.26 percent of the latter’s share capital.
The development was announced by the Athens Stock Exchange (ATHEX) on Monday, in a bulletin to investors.
PPC was previously the top-down power monopoly in the country, EU competition directives over the years liberalizing Greece’s electricity production and distribution sector, such as the creation of an independent power transmission operator and an independent electricity distribution network operator, as well as the activation of a handful of private power providers, both wholesale and retail.
However, PPC still commands a dominant market share of power sector, and in all categories: households, businesses and industry.
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