Closer than ever to its 100% acquisition “Actor”your production unit Ellactor Groupis reportedly a joint scheme between the Cypriot construction group Wade Adams and the company of Dimitris Koutras, who ran the technical company from 1978 to 2018.

According to sources, after the relevant litigation, the buyer side (Wade Adams along with Mr. Kutra’s tech company) reached an agreement with the main shareholders of Ellaktor, the Dutch Reggeborgh Invest BV and Motor Oil, to sell “Aktor” at a price, the lower range of which is in the order of 100 million euros.The same information states that the signing of a preliminary agreement on the transfer of shares of “Actor” is not far off, and the transaction should be completed in early spring.Until the final transaction is concluded, all possibilities for its outcome remain open, since the balance in this However, the acquisition of Actor by Wade Adams and D. Coutras’ interest group will lead to the latter’s return to the tech company four years later. by 23% since the beginning of the year, “closing” on the stock market yesterday, at 2.1 euros.

The deal boosts Elkator shares, which are up 23% since the start of the year.

The sale of Akter is expected to bring significant liquidity to the group’s major shareholders, Elactor, Reggeborg and Motor Oil, which control the listed company with 46.1% and 29.87%, respectively. Especially for the Dutchman Reggeborg, who acquired control of Elktor at the end of January 2021, this will result in a significant capital gain as Elktor’s performance has improved significantly compared to two years earlier. It is significant that the backlog of Actor for the 2020 financial year amounted to 1.6 billion euros, having increased to 2.7 billion euros in the first nine months of 2022. Also in 2020, the operating margin was at -155 million euros. , with losses capped at €70.1 million for the nine months of 2021 and minimized to €0.1 million between January and September 2022.

In mid-December last year, Ellactor also completed the sale of 75% of the RES sector to Motor Oil for €671.5 million, with the Ellactor sale restricting Ellactor’s portfolio to concession areas (Offshore Concessions) and real estate development ( red). The decision to sell Elactor’s construction division is in line with the group’s major shareholders’ strategic plan to focus on energy and real estate. The implementation of construction projects at a significant profit has become a challenge after the skyrocketing costs of construction and energy, as well as difficulties in finding staff. Coping with the increased risk – at least due to the deep discount period – requires strong liquidity and a sound financial structure, so leaving the industry, at least for some non-traditional players, seems to have more advantages.