The deal for the acquisition of Elector by Manetial Limited, a subsidiary of Motor Oil, will be concluded tomorrow. Specifically, the Competition Commission has announced as an item for a plenary meeting on January 8 the deal it started examining on October 23, 2024, when it assessed that serious doubts were identified as to its compatibility with the competition operating requirements in individual markets to which it relates. It is noted that under the law, the Commission is obliged to adopt its final decision within 90 days. 

DEAL 

Speaking to analysts at the presentation of the nine-month financial results, Motor Oil's Deputy CEO Petros Tzannetakis appeared optimistic about the progress of the transaction and estimated that the acquisition will be successfully completed.

He said that the acquisition of 94.4% of Elector for €115 million will strengthen the group's presence in the waste management sector. This is a market in which €5 billion of projects are expected to go on air in the coming period.

2024 EVENTS

In the course of 2024, elector: 

• Has been appointed as the provisional contractor for the contract "Construction of a landfill site (landfill) in the Municipality of Acharnon-Asterousia," with a contract price of €2.9 million.
• Signed, through a consortium in which it participates with 83%, the 2nd amendment to the contract for the project "Design, construction of works for the first phase of the rehabilitation of the OEDA of West Attica and transitional waste management," with a contract value of €1.9 million.
• It was awarded as a provisional bidder for the contract "Construction of Waste Treatment Plant and Biowaste Treatment Plant within the Landfill of the 2nd DE (Agrinio Unit)". The contract construction budget amounts to €15.5 million, plus an option of €16 million. Operating budget of €31.7 million for 6 years, with an option of €31.7 million for an additional 6 years.
• Provisional contractor for the contract "Interconnection of Amyndeon district heating with the integrated district heating network of Western Macedonia," with a total contract price of €21.4 million.

On 30/09/2024, Elektor had: 

• a construction backlog of €81.5 million (the company's share)
• Operating backlog of €70.5 million (company's share)

In 2023, it had in operation:

•  4 municipal waste treatment plants with an annual capacity of more than 700,000 metric tonnes
• 2 medical waste treatment plants, with a total of 700,000 tonnes of municipal waste (700,000
• tonnes of municipal waste per year), with a total of 700,000 tonnes of municipal waste per year.
•  4 biogas-fired power plants from landfill gas, with a total installed capacity of over 33 MW