ΓΔ: 889.4 -1.84% Τζίρος: 41.99 εκ. € Τελ. ενημέρωση: 14:17:42 ΣΤΟΙΧΕΙΑ ΑΓΟΡΑΣ
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Τα κεντρικά γραφεία της Ελλάκτωρ. Πηγή: ellaktor.gr

Ellaktor in race for 170 mln euros after shareholder battle

The shipowners Dimitris Bakos and Giannis Kaimenakis, who, through Greenhill, lost the battle for the second time in the last quarter, announced that they are not putting down their weapons.
Dominance on Thursday by Dutch investment company Reggeborgh, the second victory in three months, in the dispute over control of Ellaktor, could lead to a change in shareholders at the listed company.

The shipowners Dimitris Bakos and Giannis Kaimenakis, who, through Greenhill, lost the battle for the second time in the last quarter, announced that they are not putting down their weapons. Earlier, they had stated, through their representative, that they would participate in the share capital increase "if it is decided legally".

Construction market officials said yesterday that now the Dutch have the opportunity to prove that they will invest further to save Aktor and Ellaktor. They pointed out that Reggeborgh promised to cover up to 40 percent of the share capital increase, amounting to 120.5 million euros, which was approved yesterday.

Those close to the Dutch group did not rule out the possibility of acquiring additional rights and in investing an even larger amount. All this, of course, we will know in the middle of the summer when the share capital increase is expected to be completed.

Much earlier, on May 10, we will know if Reggeborgh will finally acquire the 12.55 percent that Leonidas Bombolas currently owns in Ellaktor or if there will be a new extension in the option agreement held by the Dutch group. The agreement between the two sides is being targeted by the shipowners who claim that it allows for Bombolas to acquire Elector, the subsidiary in the waste sector, in exchange for the shares it holds in the parent company.

That is why they demand that the agreement between the two sides be made public. Bombolas has already taken over the position of CEO of Elector, which he held in the past, that is, before he left when he lost the battle for control of the group by the Kallitsantsis brothers in July 2018.

The management of Aris Xenofou in Ellaktor took a significant breather yesterday, as it can now proceed with the interim financing through the bond loan of 50 million euros after having already made an agreement with Eurobank. A condition for the disbursement of the loan was the approval of the capital boost. Group executives said yesterday that an effort is being made for the interim funding to be paid in the next few days.

As for the capital increase, the original plan foresaw that it would be completed by the end of June. The prospectus is expected to be submitted immediately to the Hellenic Capital Market Commission for approval.

A big question mark is the stance of the two shipowners, which was not clarified in yesterday's Greenhill announcement. "We have invested in our country listening to the calls of the government and we will defend our investment because we believe in the Greek economy and Greek Justice," the statement said.

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