A placement that sends out multiple positive messages took place a while ago through the A.A., with 2.6 million. shares of GEK TERNA to pass from the hands of the Latsco Family Office to international investors, to the President and CEO of the Group, Mr. C. Pigeon and other high-ranking executives GEK TERNA and her TERNA ENERGY.
Specifically, at a price of 18.00 euros, very close to the 25-year high of the GEK TERNA share, a series of transaction packages passed. According to information, five (5) international investors share between them about 1.7 million. shares of the listed company, while Mr. Peristeris acquired over 600,000 shares. The rest were bought by executives of the GEK TERNA and TERNA ENERGY companies.
The timing of the placement should not be considered a coincidence, market players comment, since it takes place immediately after the financial closing of the transaction for the acquisition of 70% of TERNA ENERGY by Masdar and shortly before the public offer for the remaining 30% is submitted , freeing up liquidity close to 700 million euros in A.A., of which 200 million estimated to be Greek institutional and private investors.
The G. Peristeris and his partners, who sold the shares they owned in TERNA ENERGY to Masdar, are reinvesting a significant part of the funds they obtained in GEK TERNA, signaling that the parent company of the Group is the next big play and of course giving a clear vote of confidence in its prospects GEK TERNA.
At the same time, the continued interest of foreign investors in strengthening their position in the leading Greek construction, infrastructure and concessions group is confirmed once again, and indeed at prices very close to the stock’s historically high levels. It is recalled that just 11 months ago, GEK TERNA had proceeded to dispose of 6 million of its common shares in a private placement through a book offer to selected international institutional investors.
As for the Latsco Family Office interests of Ms. Marianna Latsis, as part of the restructuring of its portfolio, it proceeded to liquidate a relatively small part of the position it acquired in GEK TERNA in 2021, capitalizing a return of over 60%. It is worth noting that in the context of the strategic alliance with GEK TERNA, the Family Office of Ms. Marianna Latsis recently invested almost 80 million. euros for the acquisition of 10% in Nea Attiki Odos, increasing its overall exposure to the GEK TERNA Group and demonstrating in practice its firm support for the Group’s prospects.