Intrakat announces that the Competition Commission approved yesterday the acquisition of all the shares of Aktor SA, thus setting the course for the immediate completion of Intrakat Group's vision to create a strong Construction pillar in Southeastern Europe, generating value for the economy and the country.
The Vice Chairman of the Board and CEO of Intrakat, Mr. Alexandros Exarchou, welcomed the decision and stated: "With the acquisition of Aktor, which will be implemented immediately, Intrakat transforms into a catalytic player in the market, not only in Greece but also in the broader Southeastern Europe region. This marks a milestone in the course of our Group, sealing our dynamic growth path and our strategic choice to create a leading business pillar, with an expanded portfolio of activities, generating value for shareholders, the economy, and society".
Mr. Exarchou added: "The acquisition of Aktor reflects the strong confidence of our shareholders in the prospects of the Intrakat Group, the construction sector, and the country itself. With this entrepreneurial initiative, our Group sends a loud message about the future: Our ambition and commitment to serve as a catalyst for the progress and development of the country, leveraging the technical expertise, experience, and talent of our people. We are particularly proud to see this vision of ours come to fruition."
The new pillar will have a total backlog of around 5 billion euros (estimate as of 31/12/23) and will offer significant synergies in the construction, concessions, and energy sectors, with a portfolio of 370 ongoing projects, a combined turnover of approximately 1 billion euros on an annual basis, and over 3,000 employees.
It is worth noting that the acquisition agreement of Aktor by the Intrakat Group includes the payment of a consideration of 100 million euros in the immediate future, while an amount of 114 million euros, relating to intra-group obligations of Aktor towards the Ellaktor Group, will be gradually repaid by Aktor with the guarantee of Intrakat, within 19 months from the completion of the transaction.
