According to a relevant announcement, Hochtief exercised its right to acquire a stake, increasing AVAX Group's stake in the concession contract and the operating company of the Olympia Odos from 19.1% to 23.01%. 

The wholly owned subsidiary "AVAX Concessions" carried out the transaction as part of AVAX Group's strategy to clarify its operational and business structure, provide more flexibility in investment implementation, and emphasize the true value of its concessions and PPP portfolio.

Delivery on major concessions projects

According to the announcement, AVAX Group's experience in concessions and PPP projects spans the last three decades. During this period, the group has achieved high returns and outperformance by investing in a diversified portfolio of holdings in a total of 19 concessions and PPP projects in the infrastructure and transport, environmental, port and social infrastructure sectors, with flagship projects such as the Rio-Antirrio Bridge, Attiki Odos, national roads, Jordan Airport, etc.

Through its wholly owned subsidiary "AVAX Concessions," the Group aims to both more clearly reflect the value of its portfolio and to facilitate access to financing for new investments. In this context, AVAX Concessions issued a €300 million joint bond with a seven-year term to finance its own development and investment projects, thereby enhancing the transparency of the listed construction company AVAX SA's borrowing, primarily for project execution needs.

In its current portfolio, the AVAX group includes interests in three road concession projects, two marina concession projects, and four parking lot projects. In addition, it has interests in a solid waste management plant and the Thessaloniki Flyover through PPP contracts. The remaining duration of these contracts is between 10 and 28 years, ensuring the portfolio's performance over the medium and long term.

The group's active concessions are:

1) Aegean Motorway

2) Olympia Odos

4) Limassol Marina

5) Marina Athens

6) Four car stations

PPP projects

1) Thessaloniki Flyover

2) Waste treatment plant in the prefecture of Ilia

AVAX Group is simultaneously targeting more than 25 new tenders for PPP contracts in various sectors of social and public infrastructure and services, with an estimated value, in present value terms, of more than €4 billion and an investment of more than €3 billion, claiming a market share commensurate with the performance of its portfolio to date, but also expecting corresponding revenues from the construction, operation and maintenance contracts for these projects, which will maintain or even increase the return on its portfolio over the next 20 years or more.