The tenders for the sale of LARCO's assets, as well as the state's mining rights and the Larymna smelter, were concluded without result, the Ministry of National Economy announced, as the preferred investors that had emerged from these procedures (GEK TERNA and AD Holdings) announced last Friday in a letter to the relevant ministries that they had withdrawn their interest.

The letter points out, inter alia, the adverse changes in the global market for energy, metals, and, in particular, nickel products, as well as the repeated and ongoing legal entanglements.

In this regard, the Hellenic Republic Asset Development Fund (TAIPED) was also informed in order to proceed with the cancellation of the tender for the mining rights and metallurgy of Larymna.

The investment interest indicated in the Ministry's announcement further demonstrates that the views on "selling off a company with great value and hidden surpluses" do not match reality.

The government, in cooperation with the TAIPED, will proceed immediately to review and, if necessary, redesign the structure of the transaction with a view to launching a new tender with the aim of finding a viable solution through credible private investors that will provide a meaningful perspective for employees.

The additional transitional cover measures announced by the government apply to the employees on the basis of a similar provision made in similar cases (such as the Skaramanga shipyards).