A mega-deal in the construction sector in Greece is on the verge of being completed after a major stakeholder in GEK Terna has decided to sell its 30.2% shares in the company.
According to sources, the final details of the sale are being ironed out between the family office of Marianna Latsis and the Dutch Reggeborgh Invest, which holds one-third of the company, as the Latsis family office is said to be ready to acquire a significant percentage in the construction company.
The decision of the Dutch to redefine their strategy in construction was taken after the general meeting of shareholders on January 27 and is connected with the effort of Reggeborgh Invest to invest strategically in ELLAKTOR Group, the largest infrastructure group in Greece and one of the leading in Southeastern Europe, but also to manage the competition issues that arose with its participation in the two strong technical groups of the country.
The Dutch fund is positioned in ELLAKTOR with a 14.1% stake, and it seems that the agreement will allow it to seek increased shareholding in the construction group in the near future.
GEK Terna Holding Real Estate Construction is a large Greek conglomerate that is listed on the Athens Exchange. Its construction branch Terna is one of the leading enterprises of its sector in Greece.