The Latsis Family agreed on Friday with the construction expert GEK TERNA Group for the acquisition of 10% stake in Greece’s busiest tollway Attiki Odos.
The Latsco Direct Investments Cyprus Limited represents the interests of the Greek businesswoman, and philanthropist Mrs. Marianna Latsi, daughter of Latsco Shipping Limited founder Captain John S. Latsis.
To remind, Latsco Direct Investments Cyprus Limited is an investment vehicle of the Latsco Family Office.
As it is reported, GEK TERNA Group in line with the provisions of the concession agreement for Attiki Odos has announced that following an agreement with Latsco Direct Investments Cyprus Limited intends to submit to HRADF a filling for the acquisition from the latter of 10% of the share capital of Nea Attiki Odos S.A.
The price of the transaction represents a premium of 15% over the initial committed investment of GEK TERNA in the project.
The closing of the transaction is premised upon the receival of the relevant approvals and completion of process as envisaged by the concession agreement.
Attiki Odos was constructed in the 1990s. Extending along 70 km, it serves as the ring road for the broader metropolitan area of Athens and the backbone of the road network in the Attica region, where more than 5 million people live.
It also acts as a connecting link for the PATHE Motorway (Patras-Athens-Thessaloniki-Evzoni), as it connects the Athens-Lamia National Road with the Athens Corinth National Road, bypassing the center of Athens, while providing a road connection between the Athens International Airport and the city center.
