Helector

Motor Oil (Hellas) Corinth Refineries announced on Tuesday that it had agreed to purchase through its subsidiary Manetial Ltd 94.44% of Helector, a waste management and alternative fuel production company with a vertically integrated operation and a subsidiary of Ellaktor.

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.

An Athens prosecutor has ordered the criminal prosecution of prominent businessman Leonidas Bobolas and two others connected to his company Helector.