One of the central figures in the coming months should be Giorgos Peristeris GEK TERNAwhich leads a dominant Group in the Construction and Concessions sectors.
And this is because at the beginning of the new year he will officially take over the “Golden” concession of the Attica Roadwhile at the same time until the end of 2024 he will “manage” it sale of the majority stake in Terna Energy to the Masdar Arabs, creating significant goodwill for all shareholders.
The heavy “artillery”
At the moment, George Peristeris, the main person in charge of GEK TERNA, controls most of the concessions in Greece, having set foot in at least 1,700 kilometers of highways throughout the country. In addition, it participates in the project for the new airport in Heraklion, Creteas well as in the management regime of its port Mackerel.
And of course, let’s not forget the dynamic presence in Greek with the development of the Casino, but also the strong portfolio of projects in the area of Construction (5 billion euros in the first quarter of 2024), where GEK TERNA is the largest company in the country.
TENERG’s goodwill
Simultaneously with the above, Giorgos Peristeris, who has been in the Group for at least four decades, that is, long before the TERNA-GEK “marriage” in 1999, is called to “direct” the sale of the majority stake in Terna Energy to the Arabs. An undertaking that takes away part of the Group’s income and profitability, but at the same time “fills” with significant cash flow.
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The deal was announced at the beginning of the summer and now, in the coming period, all the relevant procedures are about to take place, which will be concluded with the public proposal to the other shareholders. It is also pending to clarify which exactly TENERG’s non-energy assetssuch as waste management and the issuing of electronic tickets, will be under the control of parents.
Two decades of growth
All of this, reasonably, is reflected in your dashboard Athens Stock Exchangewhere GEK TERNA’s share remains stable at highest levels in the last two decades (>€17), benefiting from a valuation of €1.8 billion.
About 1/3 of this amount corresponds to the share of Giorgos Peristeris, who currently controls the 29.9% of the shares of the listed company. And let’s not forget the amount of 260 million euroswhich you will receive very soon from your direct stake (11%) in Terna Energy.
Peristeris: The immediate benefit of 260 million euros and the next day – without TENERG –
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)
