Athens, Greece – 24 June 2019 – MYTILINEOS S.A. ΑΕ. (RIC: MYTr.AT, Bloomberg: MYTIL.GA) announces the agreement for the acquisition of the remaining stake (49.9%) that it does not already own in METKA EGN Ltd. Following the completion of the transaction, MYTILINEOS SA becomes the sole shareholder (100%) of METKA EGN Ltd.
This transaction takes place within the framework of MYTILINEOS’ overall energy plan, which will now include a platform for the construction, operation, financing and resale of photovoltaic power generation and storage units in Greece, but mainly in the international market.
The total acquisition of METKA EGN ensures obvious synergies: The exceptional know-how developed in recent years by METKA EGN will benefit from increased financial flexibility, an increased ability to secure optimal agreements with suppliers and customers and will especially benefit from its increased size in the context of MYTILINEOS’ investment activity in BOT projects. This overall combination strengthens METKA EGN’s position among the top players in one of the world’s fastest-growing industries, solar power generation and storage.
The existing management team and the managerial staff of METKA-EGN are already fully integrated into the MYTILINEOS family focusing on the business plan’s implementation assisted by key corporate support functions and the EPC Business Unit. 5000 l
The transaction is subject to the completion of financial, legal due diligence and the finalization of the legal agreement in order to execute the transaction by all the relevant bodies.