Two of Greece’s most prominent business companies appear to be aligning their strategic interests and joining forces.
The AKTOR Group and Vardinoyannis family-led energy group Motor Oil have signed a framework of key transaction terms under which AKTOR will acquire a 50% equity interest in Dioriga Gas S.A.
DIORIGA GAS S.A. is the project vehicle for the development and operation of a floating storage and regasification unit for liquefied natural gas in Greece (the FSRU), which is expected to be connected to the National Natural Gas Transmission System.
According to AKTOR’s and Motor Oil official announcements, the two companies have agreed on a framework of key terms for the proposed transaction involving the company Dioriga Gas.
The transaction remains subject to several conditions, including finalization and execution of definitive contractual documentation between the parties, as well as obtaining all required corporate, regulatory, and other approvals.
The proposed acquisition supports AKTOR’s strategy to strengthen its footprint in critical energy infrastructure and contribute to energy supply security and source diversification, both in Greece and across the wider region.
AKTOR said it will inform the investment community, in accordance with the applicable regulatory framework, of any material development in relation to the proposed transaction.
From its side, Motor Oil (Hellas) Corinth Refineries S.A. stressed that the proposed transaction forms part of its broader strategy to develop critical energy infrastructure and strengthen its presence across the natural gas value chain, while further advancing the FSRU project by enhancing its financial, operational and commercial position.
