Following the approval by the Competition Commission, Intrakat must now move with the integration of Aktor and its development into a group with a portfolio of 370 projects in progress, an annual turnover of 1 billion euros and 3,000 employees.
According to Intrakat’s managing director, Alexandros Exarchou, Intrakat is ready both organizationally and financially to welcome Aktor.
The size of the new Intrakat group gives it the possibility to claim a significant share of the projects in Greece (40 billion euros) as well as in Romania, where many projects (1.2 billion euros) are in progress.
The next steps
Specific decisions on how Aktor (until now a subsidiary of Ellaktor) will be integrated into the Intrakat Group have not been announced yet. However, it will initially become a subsidiary of Intrakat along with the transfer of Aktor’s shares, changes to the board of directors of the company and its subsidiaries.
The integration of Aktor will take place in a period when many public and private projects are in progress. Therefore, the issue of securing the necessary human resources is rather important after the ten-year financial crisis which had inflicted severe damage on the sector.
Intrakat’s management is expected to focus on this area, among others, in order to cope with the demands of the projects it has undertaken.
New balances in the construction market
However, the completion of this acquisition will bring new balances to the construction market. The major listed companies in the sector will be reduced from five to four, while there will also be changes in the various joint ventures in which the two companies participate.
