Ellaktor putting 22.74% stake in domestic power supplier on the selling block

Thursday, 09 May 2019 21:31
UPD:21:39
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Greek construction contractor Ellaktor is reportedly in negotiations to sell-off a 22.74-percent stake it owns in domestic electricity provider Elpedison.

Ellaktor recently announced that it was activating a shareholders’ agreement to sell off its block, by which the two other major shareholders in the company – Hellenic Petroleum (Hel.pe) group and Italy-based Edison – have the right of first refusal.

Negotiations are expected to conclude, one way or another, by the summer. While the other two shareholders retain the right to purchase the stake, Ellaktor cannot enter into negotiations with a third party.

Nevertheless, reports state that both Hel.pe and Edison will table an offer.

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