Australian company, Macquarie, given minority stake in Greece’s national grid operator

·

Public Power Corporation (PPC), Greece’s biggest power utility, has agreed to sell a minority stake in the country’s sole power grid operator, DEDDIE, to Macquarie Asset Management, PPC and Macquarie said on Wednesday.

READ MORE: Australian company declared highest bidder for stake in Greece’s national grid operator.

PPC last month named Macquarie as the preferred bidder for a 49% stake in DEDDIE. Macquarie’s offer valued the stake at 2.1 billion euros, including debt of €804 million.

PPC sources also said in September that Macquarie’s bid was the biggest privatisation in Greek history.

Macquarie Asset Management will invest in PPC on behalf of institutional investors, including pension funds and insurance companies, PPC and Macquarie said in a joint statement.

READ MORE: Macquarie named preferred bidder for stake in Greek power grid operator.

PPC will retain a 51% stake in HEDNO, which operates a 242,000 km long grid, bringing electricity to about 7 million households and businesses.

Source: Reuters.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Woman who confessed to killing infants moved to high-security Korydallos prison

Eirini Mourtzoukou, the 25-year-old woman who has confessed to killing at least three infants, has been transferred to Korydallos Prison.

GOCNSW youth lead heartfelt farewell to Greek Consul General in Sydney

The Greek Orthodox Community of NSW hosted a special farewell reception for the Consul General of Greece in Sydney, Yannis Mallikourtis.

From Athens with purpose: Reflections on the Global Summit of Hellenic Lawyers 2025

As the Global Summit of Hellenic Lawyers 2025 drew to a close, it did so against the majestic backdrop of Athens.

Honouring Cyprus’ martyrs: Melbourne remembers the sacrifice of July 9, 1821

A hierarchical memorial service was held on Sunday, July 13, at the Holy Church of the Presentation of the Theotokos in North Balwyn.

Melbourne’s Greek community pays emotional tribute to the ‘Pontian Eagle’ Peter Jasonides

On a cold Friday night, a full hall at Alphington Grammar’s Lyceum brought warmth to those gathered to honour the life of Peter Jasonides.

You May Also Like

Preserving Hellenic heritage in Australia: The birth of ‘Speak Greek in March’

The idea of organising the “Speak Greek in March” campaign came to me at an Omiros graduation ceremony, where I was asked to present.

MANASIS to bring Greek culture back to Moomba Parade after 30 years

On March 10, the MANASIS School of Greek Dance will create another milestone in its history, through participating in Moomba Festival Parade.

Steve Teloniatis: Greek Australian cricketer catching every opportunity

In the midst of the summer cricket season, Steve says he’s “excited” to have some more matches and wickets under his belt.