Motor Oil announced that it is in negotiations with Helector for the acquisition of all of the shares of Elector, representing 94.44% of the company's share capital and voting rights. In this context, Motor Oil has today sent an offer of €114,7 million.

The signing of the transaction is pending the finalisation of the purchase agreement and the adoption of the relevant corporate decisions by both parties.

The full announcement is as follows: 

Μotor Oil announces that it is in negotiations with Ellaktor for the acquisition, either by itself or by a subsidiary thereof, of all the shares held by Ellaktor in the company named "Helector" and representing 94,44% of the issued and fully paid-up share capital and voting rights. In this context, the company has today sent an offer, which is subject to terms, conditions, and preconditions, amounting to EUR 114.7 million. The signing of the transaction is subject to the finalization of the purchase agreement for the above shares under terms mutually acceptable to both parties and the adoption of the relevant corporate decisions by both parties. Motor Oil. will keep the investing public informed on the progress of the transaction.".