Ellaktor Group

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.

The Hellenic Competition Commission has expressed its concern over the acquisition of construction company Aktor by Intrakat, saying that it would investigate the deal and announce its decision in roughly three months.

The Hellenic Competition Commission has expressed its concern over the acquisition of construction company Aktor by Intrakat, saying that it would investigate the deal and announce its decision roughly in three months.

ATHEX-listed Ellaktor Group said on Thursday its 2022 turnover totaled 1.04 billion euros, up 14% from the previous year, and its EBITDA jumped 45% to €239 million.

Pre-tax profit was €68 million in 2022, after a loss of €29 million in 2021, while after-tax profits totaled €519 million, boosted by the sale of a 75% equity stake in the renewable energy sources sector.

Intrakat has announced the completion of its acquisition of Aktor SA (a member of the Ellaktor Group) for 100 million euros in cash, while another €114 million regarding Aktor's debt obligations to the Ellaktor Group will be paid gradually under Intrakat's guarantee within 19 months.

The final touches are being added by the heads of the Ellaktor and Intrakat groups to the acquisition agreement of Aktor by the latter.

New talks are taking place concerning the sale of Aktor, the Ellaktor Group's construction arm, following the failure of discussions with previous suitors, which may well lead to the creation of a major player in the domestic market.

It will take four years until work can begin on the radical facelift of the Alimos marina in southern Attica, as it is expected to take this long for all the necessary permits to be issued.

The contractor of the project is Nea Alimos Marina Development SA, a 100% subsidiary of Aktor Concessions, a member of the Ellaktor Group.

Ellaktor group subsidiary REDS expects to receive annual leasing revenues of 23 million euros from the operation of its Cambas Project at Pallini in eastern Attica.
The 200-million-euro investment on a 315,000-square meter plot, which is not expected to launch operations before 2022, is expected to receive 4,000 visitors a day when it does open.

The price of office properties in Greece rose 7 percent in 2018, with prices in Athens rising 9 percent.