Motor Oil nears Helector buy

Motor Oil is close to the signing of a memorandum of cooperation that will provide for the acquisition of Ellaktor's subsidiary, Helector.

Negotiations between the two listed groups are at an advanced stage and the last steps to complete the agreement are expected to take place, barring unforeseen circumstances, in the near future.

Based on the relevant information, the agreement will provide for the acquisition of the Ellaktor group's entire stake in Helector, which covers approximately 94% of its share capital, with the exception of a percentage of less than 6% that is said to remain in the ownership of Leonidas Bobolas.

Helector is a fully vertically integrated waste management and green energy company and its acquisition fits well with Motor Oil's strategic plan for its 2030 green energy transformation, which it is rapidly developing through full-budget...