Motor Oil in discussions for the acquisition of 30% of ELLAKTOR- The trading of their shares was suspended

Shipowners Dimitris Bakos and Ioannis Kaimenakis are in negotiations with the Vardinogiannis family for the sale of the approximately 30% they hold in ELLAKTOR, according to information.

According to the same information, the price is said to be 1.75 euros per share, which means a premium which is close to 20% from the last closing yesterday (1.48 euros) and translates into a total price of about 180 million euros.

In case the deal goes ahead, as the information states, there are expected to be significant developments in the energy part of the ELLAKTOR Group.

It should be noted that in RES, the Group is the second largest producer of energy through RES in Greece (493MW, 24 wind farms, 1 small HPP and 1 PV), with projected increase of installed capacity by 730 MW by 2025, with target projects in operation with a total capacity of 1.2 GW.

The trading of the shares of Ellactor and Motor Oil was temporarily suspended a while ago, at the request of the Hellenic Capital Market Commission.

In particular, as stated in a relevant announcement:

Following a relevant request of the Hellenic Capital Market Commission, the competent stock exchange authorities announced that the trading of the financial instruments of Ellactor and Motor Oil companies is temporarily suspended from today, Friday 6 May 2022, according to paragraph 1 of article 17 of law 3371 / 2005, for reasons of protection of the investing public and the smooth operation of the Securities Market of the above companies and until information is provided to the investing public regarding the possible implementation of the transaction.

Derivatives and lending on the shares of the above companies are also temporarily suspended. ”