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Athens Macedonian News Agency: News in English, 16-10-26
CONTENTS
[01] China's State Grid submits higher bid for ADMIE, says PPC
[01] China's State Grid submits higher bid for ADMIE, says PPC
Greece's power utility PPC announced on Wednesday that China's State
Grid Corp. has submitted the winning bid for a 24 percent stake in grid
operator ADMIE, offering 320 million euros.
The other candidate was a consortium led by Italy's Terna.
PPC's board of directors said it will validate the offer on Monday while
a final decision will be made on November 24, during PPC shareholders'
general assembly. At the end of the procedure, the State will control
51 percent of ADMIE, while its CEO will be appointed after an agreement
between the State and the strategic investor.
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