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Tag Archives: acquisition

Greek Public Power Co. (PPC) buys Kotsovolos electronics retailer

Greece’s Public Power Corporation (PPC/DEH) announced on Friday the acquisition of electronics retail company Kotsovolos for 200 million euros. The PPC noted, among others, that the acquisition of Kotsovolos will bring savings of approximately 100 million euros which, according to the investment plan, was intended for the creation of a …

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Italgas acquires 100% of Greece’s Public Gas Corporation DEPA

Italgas completed the acquisition of DEPA Infrastructure SA, Greece’s leading natural gas distribution operator, in Athens on Thursday following an international tender and after acquiring 100% of the company from Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum (HELPE). The transaction closing took place in the presence of Ministers …

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Bill for acquisition of 18 French Rafale submitted to Greek Parliament

A draft bill of the Ministry of Defense for the acquisition of 18 French Rafale fighter aircraft has been submitted to the Defense Committee of the Greek Parliament, a step before the voting. The bill with the title  “Approval of draft defense contracts” contains five articles. The main ones are …

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EU clears acquisition of Greece’s gas grid DESFA by Italy’s Snam

The European Commission said on July 16 that the EC has approved, under the EU Merger Regulation, the acquisition of DESFA of Greece by Snam of Italy. DESFA operates the high-pressure pipeline grid and a liquefied natural gas (LNG) terminal in Greece. Snam is the main gas transmission system operator …

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Canadian Fairfax buys Greece’s 3rd largest insurer Eurolife from Eurobank

Toronto-based Fairfax bought 80% of Greece’s third largest insurer Eurolife that sells insurance products through Eurobank, where Fairfax holds a stake. It is the second acquisition announcement today, after Qatar National Bank announced it acquired Turkish Finanzbank from the National Bank of Greece. “After riding out the Greek banking crisis …

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National Bank for Greece sells Finansbank stake to Qatar’s QNB

Finally a bank deal to get rid of non-profit bringing subsidiaries. Qatar’s National Bank acquired the Finansbank stake of National Bank of Greece for €2.7 billion. The stake of National Bank in Turkey’s Finansbank was 99.81 percent. However, Greek media report that the acquisition price is much higher as the …

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TAIPED unanimously declares Lamda SA as preferred bidder for ex Athens airport Elliniko

The board of Greece’s privatization agency TAIPED unanimously declared LAMDA Development SA as preferred investor for the acquisition of 100% of the shares of the former Athens airport Elliniko SA. TAIPED confirms Lamda as preferred Elliniko bidder Greece has picked Lamda Development, backed by Chinese and Arab funds, to develop …

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Deal sealed: Piraeus Bank buys 3 Cypriot banks units in Greece for €524 million

Greece’s Piraeus bank announced that it will acquire the branches of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank in Greece for 524 million euro.  The announcement was made Tuesday noon. The branches of these banks will open on Wednesday, March 27th 2013 and all operations will be performed …

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