€32 million revenue expected to be secured “Awax” from the planned sale of its participation in the companies that operate and operate it Bridge Rio – Antirio and specifically “Gefira S.A.” and “Gefira Operation S.A.” The listed company has interests of 20.53% and 21.55% respectively in the two companies, which are expected, barring unforeseen circumstances, to be sold to the remaining shareholders of the joint venture, the French group Vinci and Actor Concessions, in proportion to the existing percentages of each. There is an agreement in principle between the shareholders.

In particular, Ellactor Group’s “Concession Actor” is negotiating the acquisition of 5.69% and 6.35% respectively, while Vinci, which is the other shareholder, is negotiating the acquisition of 14.64% and 15.2% respectively. Today Vinci controls a 57.45% stake in Gefyra SA, while Aktor Parchoresis controls 22.02%. Thus, if the agreement in question goes through, Vinci will receive a stake of 72.09%, while Actor Parkhoresis will control the remaining 27.91%. Both Avax and Elactor formalized discussions with announcements yesterday on the Athens Stock Exchange.

Awax’s goal with this move is to raise additional liquidity to participate in the new concession projects and PPP contracts it is bidding on, as well as to seamlessly execute the important portfolio of projects it has undertaken and which, together with the contracts to signing is 2.5 billion euros. Avax is currently awaiting the signing of projects such as the new Thessaloniki Ring Road (Flyover) in a joint venture with the Mytileneos group. This is a contract worth 462 million euros, while the company has also been named as a contractor on the Bralos-Amphissa road axis, worth 285 million euros.

Together with the sale of Volterra earlier in June, from which it raised 40 million euros, as well as the preliminary dividend of 30 million euros that Attiki Odos will provide to its shareholders, Avax is expected to strengthen its position. assets of approximately 80 million euros. As the group’s management reported yesterday, “a decision was made to withdraw from certain shares in order to optimize the use of assets, including certain shares in concession projects.”

At the same time, the group’s management continues to continuously plan for the creation of an autonomous subsidiary in the concession business. Avax Concessions has been established and is currently in the process of transferring the group’s shares to concession projects. It is recalled that, among other things, Avax controls a 24% stake in the Aegean Highway (Maliakos – Kliidi), 19% in Olympia Odos (Corinth – Patras) and 15% in Morea (Corinth – Tripoli – Kalamata). The new concession company will provide greater “visibility” to the group’s respective holdings and at the same time improve financing conditions for participation in new concession projects that will also be included in the new scheme.