Following the green light from the Competition Commission to AKTOR for the acquisition of 50.1% of Entelechia, the listed company announced that it has completed the transaction. Entelechia retains 49% of the company’s share capital.
AKTOR’s announcement
“AKTOR CORPORATION FOR PARTICIPATIONS, TECHNICAL AND ENERGY PROJECTS” (the “Company” or the “Group”), informs the investment community, in accordance with Regulation 596/2014 of the European Parliament & Council and the Regulation of Euronext Athens Stock Exchange, and following its announcement dated 29.10.2024, that on 29.04.2026 its 100% subsidiary company “AKTOR CONSTRUCTIONS, TECHNICAL AND ENERGY PROJECTS AND PARTICIPATIONS SINGLE MEMBER CORPORATION” (the “Purchaser”), following approval No. 900/2026 from the Competition Commission, and after obtaining the necessary licenses, approvals and fulfilling the relevant conditions, completed the acquisition of 50.1% of the shares of the share capital of the company “ENTELECHIA CORPORATION” (the “ENTELECHIA”).
The selling shareholders (the “Sellers”) of ENTELECHIA retain a 49% stake in its share capital. The construction company ENTELECHIA specializes in the construction and maintenance of all types of long-distance electrical power transmission line networks, communication lines and fiber optic networks and is one of the leading and most specialized companies in this sector in Greece. ENTELECHIA for the period 1.1.2025-31.12.2025 achieved a turnover of approximately €110 million and the EBITDA for the above period amounted to approximately €34 million. The consideration to be paid by the Purchaser to the Sellers will amount to €30.06 million and will be paid in installments as provided in the above acquisition agreement. Of the above consideration, an amount of €10 million comes from the raised capital of the share capital increase (“the Increase”) of the Company according to the decisions of its Extraordinary General Meeting of shareholders dated 19.11.2024 and the provisions of the Prospectus of the above Increase, while the remaining amount of the consideration will be covered by the company’s own capital. Based on ENTELECHIA’s most recent financial statements as well as the business plan for the coming years, it is estimated that this acquisition will contribute to the Group an average annual EBITDA of €30 million for the coming years.
The above acquisition is part of the strategic planning that the Company presented in October 2024 regarding the development of the Construction sector and in particular the further strengthening of the Group’s capacity to bid for and implement more projects related to the installation of overhead and underground electrical power transmission lines and distribution networks, as well as overhead fiber optic networks
