European interest in ELVO

A German company linked to France's state-owned producer of military vehicles Nexter Systems has expressed an interest in the acquisition of the majority of the shares of the new Hellenic Vehicle Industry (ELVO), known as Hellenic Vehicle Industry.

Kathimerini understands one of the two main Israeli shareholders of ELVO, specifically Israeli-owned Plasan Sasa (47.6%), has agreed in principle to sell its holding and is evaluating the details of the transaction.

In parallel, a 4.8% minority stake controlled by a Greek entrepreneur appears to be on the bidder's side. This way Nexter Systems can control developments. However, a proposal for the sale of its shares has been accepted and evaluated by the other main shareholder, Israeli group Naska Industries - SK Group (47.6%), the same sources report to Kathimerini. The Finance Ministry has been informed about the proposal...