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Τα κεντρικά γραφεία της Ελλάκτωρ. Πηγή: ellaktor.gr

Deadline on Ellaktor share deal expires today

There are many who believe that the implementation of the binding agreement will be extended as the two shipowners already control the relevant voting rights.

The deadline on a deal by the Kallitsantis brothers to sell an additional 18.2% stake in Ellaktor to shipowners Giannis Kaimenakis and Dimitris Bakos expires today.

The two shipowners, through the company Invesco, have already bought 5% of Ellaktor from the Kallitsantsis brothers, whose relations have not been the best in recent months.

The percentage of Messrs. Kaimenakis and Bakos will reach levels close to 23.3% with the implementation of the agreement within the day, unless of course there is a postponement.

There are many who believe that the implementation of the binding agreement will be extended as the two shipowners already control the relevant voting rights. Thus, it is likely that they will wait for the results of the general meeting on January 27 before putting their hand in their pocket to buy shares corresponding to 18.2%.

Nederland’s Reggeborgh, together with the stake held by Leonidas Bombolas, directly controls close to 27%, while sources suggest that it is supported by other shareholders who control an additional stake close to 15%.

The side of the Ellaktor CEO has taken action in recent days, both with the involvement of the two shipowners in the game to secure control of the listed company, as well as with the statements and complaints about the intervention from the Competition Commission. The Dutch, on the other hand, have indicated that they are well versed on matters relating to competitions issues.

The shareholder’s meeting will continue on January 27, although a week earlier the two sides are expected to cross swords at the extraordinary general meeting of the REDS subsidiary.

REDS is preparing to sell a property of significant value, over 6.5 million euros, in the center of Bucharest with Reggeborgh and the second largest shareholder of REDS, businessman Christos Panagiotopoulos, seeking to freeze the sale process. Panagiotopoulos controls 10.2% of REDS and has clashed several times recently with the Kallitsantsis administration.

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