Refinery group Motor Oil and Ellaktor, one of the biggest construction contractors in Greece, on Monday took the usual step of issuing twin denials of reports claiming the former was buying out a subsidiary, Helektor S.A., belonging to the latter.

Helektor is a waste management and power generation company active in southeast Europe.

“In order to allay any doubt, no agreement exists, nor has any offer (binding or non-binding) been submitted by the company (Motor Oil) to Ellaktor S.A. for the acquisition of the stake it owns in Helektor S.A.,” an announcement by the ATHEX-listed refinery group ready. The company also reminded that it’s obliged to notify investors of financial dealings, according to the Athens Stock Exchange’s (ATHEX) regulations.

Ellaktor issued a similar announcement.