Ellaktor denies getting bid for biogas producer Helector

Greek infrastructure group Ellaktor SA (ATH:ELLAKTOR) has not received any offer for the acquisition of its shares in waste management and power generation firm Helector SA, the listed company said on Monday in response to a recent media report.

According to local daily Kathimerini, Greek petroleum refiner Motor Oil Hellas (ATH:MOH) was nearing a deal to buy Helector and was holding advanced talks on the matter with Ellaktor. The newspaper also mentioned last week that the two parties were close to signing a memorandum of cooperation.

The report said further that the contemplated deal will provide Motor Oil with Ellaktor’s entire 94% share capital in the target entity, while the remaining interest of less than 6% will supposedly continue to be held by Greek businessman Leonidas Bobolas.

However, in a bourse filing on Monday, Ellaktor denied having received any offer and added the following:

"As in the past, in the context of actively managing its portfolio of business activities, the Company is constantly assessing options for the optimal utilization of its assets.

"The Company, in compliance with the obligations provided for by applicable law, assures the investment community that if and when there is an event, the disclosure of which, is reasonably expected to affect the market of its shares, it will proceed responsibly with its disclosure."

Helector is active in the fields of waste management and power generation, including renewable energy. With operations in seven countries, among which is Germany, the company has 34 MW of biogas plants, three wind parks totalling 7.8 MW, and waste management facilities, its website shows.

The acquisition of Helector is expected to support Motor Oil’s 2030 green energy transformation plan that is underpinned by some EUR 4 billion (USD 4.33bn) of investments.

In early 2024, Motor Oil took full ownership of renewable energy firm Anemos RES, which it previously owned jointly with Ellaktor.

(EUR 1.0 = USD 1.082)

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