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Reading: Ellaktor denies getting bid for biogas producer Helector
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RenewablePak > Energy Storage > Ellaktor denies getting bid for biogas producer Helector
Energy Storage

Ellaktor denies getting bid for biogas producer Helector

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Last updated: 2024/08/03 at 5:59 PM
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Ellaktor denies getting bid for biogas producer Helector
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Greek infrastructure group Ellaktor SA (ATH: ELLAKTOR) has not yet received any offers for the acquisition of its shares in waste management and power generation firm Helector SA, as stated by the company in response to recent media coverage on Monday.

According to local newspaper Kathimerini, Greek petroleum refiner Motor Oil Hellas (ATH:MOH) was reportedly close to finalizing a deal to acquire Helector and was engaged in advanced discussions with Ellaktor. The article also mentioned that the two entities were nearing the signing of a memorandum of cooperation last week.

The report indicated that the potential agreement would involve Motor Oil acquiring Ellaktor’s entire 94% share capital in Helector, while the remaining interest of less than 6% would purportedly remain with Greek businessman Leonidas Bobolas.

However, in a stock exchange filing on Monday, Ellaktor refuted having received any offers and included the following statement:

“Consistent with its history, the Company is actively evaluating options for the optimal utilization of its business assets.

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“In accordance with legal requirements, the Company assures the investment community that it will responsibly disclose any information that could reasonably impact its share market.”

Helector is engaged in waste management and power generation activities, including renewable energy. Operating in seven countries, including Germany, the company manages 34 MW of biogas plants, three wind parks with a total capacity of 7.8 MW, and waste management facilities, as indicated on its website.

The acquisition of Helector is anticipated to bolster Motor Oil’s 2030 green energy transformation strategy, supported by approximately EUR 4 billion (USD 4.33bn) in investments.

In early 2024, Motor Oil assumed complete ownership of renewable energy company Anemos RES, which was previously co-owned with Ellaktor.

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