The Hellenic Competition Commission approved yesterday the acquisition of the totality of shares of Aktor S.A. as announced by Intrakat, thus setting in motion the immediate realization of the Intrakat Group’s vision to create a robust construction pillar in Southeast Europe, generating value for the economy and the country.
The new, robust business pillar in construction aims to take center stage and expand its footprint in Southeast Europe, broadening and strengthening its portfolio of activities and investing in outward-looking, sustainable infrastructure that is resilient to the future and climate change.
Alexandros Exarchou, Vice Chairman of the Board and CEO of Intrakat, welcomed the decision, stating, “With the acquisition of Aktor, which will be completed promptly, Intrakat evolves into a catalyst player in the market, not only in Greece but also in the broader region of Southeast Europe. This marks a milestone in our Group’s journey, sealing our dynamic growth trajectory and strategic choice to create a leading business pillar, with an expanded portfolio of activities, generating value for shareholders, the economy, and society.”
The new pillar will have a total backlog of around 5 billion euros (estimated for December 31, 2023) and will offer significant synergies in the fields of construction, IT, concessions, and energy, with a portfolio of 370 projects in progress, a combined annual turnover of around 1 billion euros, and over 3,000 employees.
It is worth mentioning that the acquisition agreement of Aktor by the Intrakat Group entails the payment of a price amounting to 100 million euros in the immediate future, while an amount of 114 million euros, concerning intra-group obligations of Aktor to the ELLAKTOR Group, will be gradually repaid by Aktor with the guarantee of Intrakat within 19 months from the completion of the transaction.