Sterner Stenhus has acquired the group of 10 school projects implemented under the Public-Private Partnership (PPP) scheme from Avax. 

The EUR52.6 million (US$57.59 million) project serves more than 2,000 students in the municipalities of Athens, Heraklion, Oropos and Megara Attica.

The project was financed by Avax and a long-term loan of EUR33.4 million (US$36.6 million) from the European Investment Bank (EIB) and the European Union's Jessica program.

With the closing of the deal, Sterner Stenhus is left with 22 years of remaining concession of the project.