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Ellaktor Agrees On C$130m Deal With Qatar Holdings

Ellaktor has agreed to sell 13 million shares of European Goldfields to Qatar Holdings representing 7.07% of the company to Qatar Holding for C$130 million.

After the agreement, Aktor (Ellaktor’s parent) will hold 12.2% of European Goldfields share capital, while Qatar Holding has entered into a call option agreement to acquire a further 9,373,390 shares at C$13 per share. 

“This project has been in the centre of our interest, and would be the starting point for developing the mineral wealth in Greece, which is one on the country’s competitive advantages”, President of Aktor Dimitris Koutras told 

“This project would be a pilot for similar projects in Greece and is particularly important for the area where implemented”, he added. 

According to an announcement, Ellaktor’s management considered the above move as the most appropriate because it will facilitate the financing of the first phase of Hellas Gold’s project in Halkidiki and also it welcomes Qatar Holding as strategic partner that provides US$600 million as a loan facilities and US $150 million from existing Shareholders. 

This significant corporate transaction: 

* Represents a decisive step towards the immediate development of a milestone project in Greece’s Mineral Wealth exploitation. 

* Clearly demonstrates the starting point of cooperation between AKTOR SA and Qatar Holding.
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