Greece’s power utility PPC announced on Wednesday that China’s State Grid Corp. has submitted the winning bid for a 24 percent stake in grid operator ADMIE, offering 320 million euros.
The other candidate was a consortium led by Italy’s Terna.
PPC’s board of directors said it will validate the offer on Monday while a final decision will be made on November 24, during PPC shareholders’ general assembly. At the end of the procedure, the State will control 51 percent of ADMIE, while its CEO will be appointed after an agreement between the State and the strategic investor.
- Think Silicon is designing the next Artificial Intelligence chip in Greece
- Delphi Economic Forum kicks off in Athens on Monday
- Greece assumes one-year Presidency of the International Holocaust Remembrance Alliance (IHRA)
- The electricity interconnection of the islands of the North Aegean, in the new plan of ADMIE
- Mitsotakis-Tsipras disagreement regarding the vote right for Greeks abroad
Latest from E.Tsiliopoulos
- The Turkish opposition opens"fire" at Erdogan over his stance at the NATO summit.
- "Greece 2021" Committee funds "Data for the common good" program
- EU Commission VP Margaritis Schinas reacts strongly to "Turkaegean" trademark
- Mitsotakis contacts with Biden, Johnson on sidelines of NATO summit in Madrid
- Development Ministry orders inquiry for the registration of Turkaegean as a trademark