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Ellaktor SA's Subsidiary Signs Memorandum Of Understanding With Alpha Bank SA And Piraeus Bank SA For Acquisition Of AEGEK General Construction and Maritime Tourist Agricultural and Forestry SA


Monday, 22 Apr 2013 03:06am EDT 

Ellaktor SA announced that, a Memorandum of Understanding has been signed on April 19, 2013, between its subsidiary AKTOR SA, Alpha Bank SA and Piraeus Bank SA, which in brief includes the acquisition of 80% of AEGEK General Construction and Maritime Tourist Agricultural and Forestry SA's share capital by AKTOR, after conversion of the related ordinary shares to preferred shares without voting rights; the acquisition of 4.992% of listed AEGEK SA’s share capital by AKTOR, and the provision of consulting and advising services by AKTOR to AEGEK CONSTRUCTION in relation to its projects under construction with the purpose of their smooth, prompt and unhindered completion. The transaction, together with all relevant documents, is expected to be completed by May 31, 2013. 

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