Intrakat announced the signing of an agreement for the acquisition of Aktor SA (a member of Ellaktor Group) for 100 million euros in cash, while another 114 million euros regarding Aktor’s debt obligations to Ellaktor Group will be paid gradually under Intrakat’s guarantee within 19 months after completion of the transaction.
In an announcement, Intrakat said the acquisition will enhance the group’s position in the construction sector as the new company will have a project portfolio of around 4 billion euros.
Alexandros Exarhou, vice-chairman and CEO of Intrakat, commenting on the signing of the deal said the acquisition is fully in line with Intrakat’s development plan which envisages playing a leading role in the sector and expanding activities in Southeastern Europe, adding that both companies have a high know-how and expertise in demanding projects of high standards. The deal is subject to approval by competition authorities and Ellaktor’s shareholders. The transaction is expected to be completed by the fourth quarter of 2023 at the latest.
