European player in advanced Eltech Anemos takeover talks

A key European energy firm currently not present in the Greek market is believed to be engaged in advanced takeover talks with Eltech Anemos, a listed company ranked among Greece’s top three green energy players.

The Eltech Anemos portfolio includes installed wind energy facilities in various parts of Greece with a total capacity of 241 MW. Eltech Anemos is also currently developing seven new wind parks with a total capacity of 145 MW. Taking into consideration licenced projects, the Eltech Anemos portfolio’s capacity reaches 636 MW.

Though the takeover talks between Eltech Anemos and its possible buyer, still undisclosed, are said to have reached an advanced stage, the two sides still need to cover plenty of ground in their effort to reach a deal.

In recent years, Eltech Anemos has also been involved in takeover talks with other prospective buyers, local and foreign, to no avail.

Eltech Anemos is controlled by Ellaktor, a major corporate group whose interests include investments in the energy and construction sectors, with a 64.5 percent stake. Anastasios Kallitsantsis, Ellaktor’s president, holds a further 7.096 percent of Eltech Anemos.

In its nine-month results for 2017, Eltech Anemos posted a turnover figure of 35.2 million euros and pretax profit of 10.1 million euros. The firm’s total debt was 184.98 million euros, including 163.19 million in long-term loans.