The Public Power Corp. (PPC) on Wednesday announced that China’s State Grid Corp. has submitted the winning bid for a 24-percent stake in Greece’s power transmission grid operator (ADMIE).
The Chinese company reportedly tabled a bid of 320 million euros. The other candidate was a consortium led by Italy-based Terna.
PPC’s board of directors will validate the offer on Monday, with a final decision scheduled for Nov. 26, 2016 during a PPC shareholders’ general assembly.
PPC holds a majority stake in ADMIE, whereas state is the largest shareholder in the listed power utility, the dominant wholesale and retail power producer and provider in the country.
