Intrakat eyes acquisition of Ellaktor subsidiary Aktor in deal worth roughly 200mln€

A major deal in Greece’s construction sector appears on the horizon, with Intrakat reportedly agreeing with Ellaktor group to acquire the latter’s subsidiary, Aktor. All three of the companies are among the top construction companies, developers and infrastructure concessionaires in the country.

According to reports, the consideration hovers at around 200 million euros. If the deal pans out, Intrakat – initially established within the Intracom group – will reach a catalogue of unfilled projects worth near four billion euros.

ATHEX-listed Intrakat and Ellaktor confirmed interest in the transaction in separate announcements on Friday. The latter, however, clarified that an agreement, in principle, does not cover its project concessions, but only the construction side.

According to reports by ot.gr, talks by Intrakat and Ellaktor executives over recent days aimed to complete the deal as soon as possible, given the latest development with a bid by a consortium comprised of Aktor and Avax to win the concession for the Attiki tollway in the greater Athens area. The same reports hold that France-based Ardian, the majority stakeholder in the consortium, has withdrawn from the consortium.

The development essentially means that the Aktor-Avax scheme must find a majority partner to provide guaranteeed financing.

Any final transaction will require approval by Greece’s Competition committee.