Greek infrastructure group Ellaktor SA has refuted claims of receiving any offer for the acquisition of its shares in waste management and power generation firm Helector SA, the company stated on Monday, addressing recent media reports.
Contrary to assertions made in local daily Kathimerini, Ellaktor clarified that it has not been approached with an offer concerning its stake in Helector. The newspaper had suggested that Greek petroleum refiner Motor Oil Hellas (ATH:MOH) was close to finalizing a deal to acquire Helector and was engaged in advanced discussions with Ellaktor. Additionally, Kathimerini had indicated that the two entities were on the brink of signing a memorandum of cooperation.
The report speculated that Motor Oil would obtain Ellaktor's entire 94% share capital in Helector, while the remaining interest, less than 6%, would reportedly remain in the possession of Greek businessman Leonidas Bobolas.
However, in a regulatory filing on Monday, Ellaktor dismissed such claims, asserting:
“As in the past, in the context of actively managing its portfolio of business activities, the Company is constantly assessing options for the optimal utilization of its assets.
“The Company, in compliance with the obligations provided for by applicable law, assures the investment community that if and when there is an event, the disclosure of which, is reasonably expected to affect the market of its shares, it will proceed responsibly with its disclosure.”
Helector is recognized for its activities in waste management and power generation, including renewable energy. Operating in seven countries, including Germany, the company boasts 34 MW of biogas plants, three wind parks with a total capacity of 7.8 MW, and waste management facilities, as detailed on its website.
The potential acquisition of Helector is viewed as a strategic move to bolster Motor Oil's 2030 green energy transformation plan, which encompasses approximately EUR 4 billion (USD 4.33bn) of investments.
Earlier this year, Motor Oil assumed full ownership of renewable energy firm Anemos RES, previously jointly owned with Ellaktor, further underscoring its commitment to sustainable energy initiatives.
