Intrakat announced today that the acquisition of all the shares of Aktor ATE has been approved by the Competition Commission, thus putting the Intrakat Group’s vision of creating a strong pillar in construction in Southeast Europe on track for immediate completion, which will generate value for the economy and the country.

The vice-chairman of the board and managing director of Intrakat, Alexander Exarchou welcomed the decision and stated: “With the acquisition of Aktor, the completion of which will be implemented immediately, Intrakat is evolving into a catalytic market player, not only in Greece, but also in the wider region of Southeast Europe. This is a milestone in the course of our Group, which seals our dynamic development path and our strategic choice to create a leading business pillar, with an expanded portfolio of activities, generating value for shareholders, the economy and society.”

Mr. Exarchou added: “The acquisition of Aktor reflects the strong confidence of our shareholders in the prospects of the Intrakat Group, the construction industry and the country itself. And with this business initiative, our Group is sending a resounding message for the future: Our ambition and commitment to be a catalyst for the progress and development of the country, utilizing the know-how, experience and talent of our people. We are extremely proud to see this vision of ours come to fruition.”

According to the same announcement, the new, strong, entrepreneurial pillar in construction aspires to lead and expand its footprint in Southeast Europe, expanding and strengthening its portfolio of activities and investing in extroversion, sustainability and the creation of infrastructure that will be resilient in the future and climate change.

The new pillar will have a total backlog of €5bn (est. 31/12/23) and will deliver significant synergies in construction, PPP, concessions and energy, with a portfolio of 370 projects located in development, a combined annual turnover of 1 billion euros and over 3,000 employees.

It is recalled that the agreement for the acquisition of Aktor by the Intrakat Group provides for the payment of a price of 100 million euros in the immediate period, while an amount of 114 million euros, which concerns intra-group obligations of Aktor to the ELLAKTOR Group, will be gradually repaid by the Aktor with Intrakat’s guarantee, within 19 months from the completion of the transaction.