A series of deals, acquisitions and mergers is underway at the Athens Stock Exchange, helping the Greek market to improve its valuations and strengthen its position.
The agreement with the Intracom Group, which was recently announced and concerns the acquisition of Europe Asfalistiki by Intracom Properties for 46.5 million euros, is the latest link in a long chain of corporate deals. And the most important thing is that there is a sequel.
Based on what we know so far, there are at least 11 potential transactions underway, which promise to create new values for shareholders and expand the dynamics of Greek listed companies.
11 possible deals
In banking, for example, the market is waiting for the completion of the acquisition of the Cypriot Hellenic Bank by Eurobank – in a development that will diversify the listed company’s sources of profitability. On the part of National Bank, the Hellenic Financial Stability Fund (HFSF) is looking for the right timing for the concession of the remaining 18%, in the context of the disinvestment of the public sector from the banking sector. And let’s not forget, of course, Attica Bank, which is in the final stages of its transformation into the 5th pillar of the financial system.
Mytilineos is expected to grow significantly, through the bilateral agreements and the expansion in the RES sector. Thus, the intention to list on the London Stock Exchange can only be seen as a natural consequence, with clearly positive effects on the domestic market as well. Sticking to the energy sector, the scenarios for the sale of the majority package of Terna Energy to a fund from the United Arab Emirates are under consideration, given that it is a deal that has been discussed for several months in the market. In case of completion, however, GEK TERNA, as the main shareholder, is expected to benefit significantly.
Meanwhile, Helleniq Energy may proceed with a new placement of shares, just as it did last December. However, the decision on a placement is dependent on valuations and the situation on the stock exchange. Eyes are also turned to Titan, which sees the US business “booming”. The option to list Titan America on the New York Stock Exchange is expected to have a positive impact on the European parent as well, offering new values to shareholders.
