The Ellaktor infrastructure group, one of the largest in Greece and southeast Europe, on Monday confirmed an ot.gr report and announced that exclusive negotiations are underway with a pair of local companies for the sale of its subsidiary, major construction contractor Aktor.
The companies identified are Wade Adams Hellas SMSA and Adamas Group Ltd.
The announcement by the listed company was made to the Athens Stock Exchange (ATHEX).
According to ot.gr reports, both of Ellaktor’s primary shareholders, Netherlands-based Reggeborgh, and Motor Oil, one of the biggest petrochemical concerns in southeast Europe, have approved of the negotiations.
The same reports state that Cyprus-based WadeAdams and Aktor former CEO Dimitris Koutras have tabled an offer for the company, with a deal now possible in the coming period.
Interest had also been expressed by Intrakat, another Greece-based construction company, although the Ellaktor side reportedly cited possible opposition by the Hellenic Competition Commission – the watchdog authority in Greece – as a reason for not proceeding.
Latest News
Bank of Greece Governor Says EU will Retaliate to Trump’s Tarrifs
The Bank of Greece Governor defended the independence of central banks amid criticism from U.S. President-elect Donald Trump, who had publicly commented on Federal Reserve Chair Jerome Powel
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bitcoin Surges Toward $100K Amid Pro-Crypto Optimism in US
According to Reuters, the cryptocurrency surged to an all-time high, briefly exceeding $96,898 during Asian trading hours.
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.
New Gov.gr Service Enables Secure Reporting of Minor-Related Delinquency
It should also be noted that via the recently introduced initiative ‘Safe Youth’ application citizens have access to specially tailored informative material regarding the safety of children and adolescents
Thousands Strike in Athens Over Soaring Living Costs and Stagnant Wages
Inflation, particularly in food prices, has been crushing Greek households
Greece Overhauls Property Valuation System
Greece plans to launch a revamped property value registry in 2025 and overhaul the way objective values are calculated to enhance tax revenue and improve transparency.
Greece’s New Tax Bill Foresees Tax Relief Beyond Big Business
Tax relief measures in Greece are proposed for freelancers, property owners and farmers, along with 'big business'
Unions Call Nationwide Industrial Strike for Wed.
Mass transits are usually affected, especially in the greater Athens-Piraeus area, although bus and metro services are curtailed but not fully halted