HRADF has acquired 35% stake in DEPA Commercial S.A. from Hellenic Energy
The Hellenic Republic Asset Development Fund (HRADF) and HELLENiQ ENERGY Holdings announce the signing of an agreement for the sale to HRADF of 35% of the share capital of DEPA Emporias S.A. held by HELLENiQ ENERGY Holdings.
The agreement aims for HRADF to gain full control over DEPA Emporias while allowing HELLENiQ ENERGY to exit its non-strategic stake. The transaction is valued at EUR 208 million (US$ 216.6 million), with payment made in installments, offset by dividends received from HELLENiQ ENERGY and DEPA Emporias, or other lawful income. Following the transaction's completion, HRADF will become the sole shareholder (100%) of DEPA Emporias.
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