Ellaktor Group is proceeding with a new restructuring move for the acquisition of all the shares of its real estate subsidiary, Reds, and its delisting from the Athens Stock Exchange.
As announced, Ellaktor’s board of directors decided to submit a binding offer to Reggeborgh (and in particular to RB Ellaktor Holding B.V.) for the purchase of all the shares held by the Dutch company in Reds.
RB Ellaktor Holding (RB Holding) which is also a shareholder in Ellaktor with a percentage of 45.1% (the second largest shareholder is the Vardinogiannis Group with 29.9%) owns 38.79% of its share capital and voting rights of Reds.
The total price amounts to 60.149 million euros or 2.70 euros per share. According to the relevant announcement, its fair and reasonable price has been confirmed, following a valuation of the shares of Reds and the drafting of a relevant report, by the independent financial advisor Euroxx Securities Investments.
It was preceded by the sale of Anemos to Motor Oil, Aktor to Intrakat and Smart Park to Fourlis. As a result, the group’s liquidity has reached around 700 million euros.
