PPC sells grid stake

22 November 2016

Greece’s Public Power Corporation has agreed to sell a minority stake in the country’s Independent Power Transmission Operator (IPTO) to China’s State Grid.

The sale of PPC’s 100 per cent stake in IPTO is a requirement of Greece’s 2015 bailout deal with the International Monetary Fund (IMF). State Grid will purchase a 24 per cent share in the network firm for €320 million, PPC announced.

PPC said that State Grid’s bid was the highest offer in the tendering process. It added that its shareholders will meet on 24 November 2016 to vote on the deal.

 



Linkedin Linkedin   
Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.