A move by Dutch firm Reggeborgh to increase its stake in Greek corporate group GEK TERNA to 30 percent from 13 percent, accomplished through the purchase of a stake held by York Capital, has been attributed to the group’s successful expansion over recent years into domains carrying major potential such as renewable energy, waste management and concession agreements.
Reggeborgh’s stake increase further internationalizes the Greek corporate group as the Dutch company maintains global investments, including in energy and construction.
VolkerWessels, one of Europe’s biggest construction firms with revenues of 5.9 billion euros in 2018 and market presences in the Netherlands, UK, Germany and North America, is a Reggeborgh subsidiary.
GEK TERNA’s opportunities, synergies and new market openings to be created by the increased equity involvement of Reggeborgh are expected to soon become apparent.
In a company statement, the Dutch firm attributed its decision to increase its GEK TERNA stake to the group’s background, course, trust in the leadership of Giorgos Peristeris, as well as the Greek economy’s prospects.
Founded in 1991, Reggeborgh is the investment vehicle of the powerful Wessels family, whose business interests grew considerably under Dik Wessels, who passed away in 2017 aged 71. Forbes ranked him as the third wealthiest person in the Netherlands with a portfolio worth 3.3 billion euros.