Mar 3 • 16:17 UTC 🇬🇷 Greece Naftemporiki

EYDAP: Placement for 9.7% of the shares – Seller is Polson, buyer is TERNA

A large transaction took place in EYDAP involving 9.7% of the shares, with John Polson as the seller and GEK TERNA as the buyer.

A significant transaction in EYDAP occurred just before the conclusion of trading on the Athens Stock Exchange, involving two substantial packages of shares equivalent to 9.7% of the company's equity. The transaction price was set at 10 euros per share, which is notably higher than the current market price of 7.31 euros, indicating a premium that reflects investor confidence or strategic valuation. The seller, John Polson, previously held a stake of 9.9% in the water utility, having initially invested in the company back in 2014.

Polson's divestiture aligns with broader trends in investment strategies, particularly given his significant role as a major shareholder in Piraeus Bank. This sale might indicate a strategic repositioning in his portfolio, possibly due to evolving market conditions or a belief in the long-term value of other investment opportunities. The fact that the buyer is identified as GEK TERNA, a prominent construction and energy group in Greece, adds context to the transaction, suggesting that they see potential for growth or operational synergy with EYDAP.

As the transaction unfolds, it may have implications for future local and international investments in utilities, reflecting broader trends in infrastructure financing and public-private partnerships. The premium paid for shares relative to market value also raises questions about market confidence in EYDAP's future performance and could influence other investors' perceptions as well as the regulatory environment around public utilities in Greece.

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