LEAKS: Just as Tal Dillian (pictured) and Grigoris Dimitriadis were about to submit a petition backed by signatures from two-fifths of the members of the Parliament’s Committee on Institutions and Transparency, new information “surfaced” regarding the government’s involvement in the use and promotion of Predator.
The reason for this is yesterday’s report in the newspaper “To Vima,” according to which the owner of Intellexa, a former Israeli officer, Tal Dillian, possesses… letters of recommendation from Greek government agencies in order to market the illegal spyware in other countries as well.
The “and” implies that, according to the report, Dillian claims that Predator was operational in Greece, hence his possession of the letters of recommendation.
In a statement, the New Left recalled that according to another, earlier report by Inside Story, “the Greek Ministry of Foreign Affairs had approved the export of the Predator five times in 2021 and 2022 to authoritarian regimes or countries involved in wars, such as Ukraine, Sudan, and Madagascar, with the aim of monitoring the governments’ ‘internal enemies.’”
The opposition is now demanding that Tal Dillian and the former Secretary-General of the government (and nephew of the Prime Minister), Grigoris Dimitriadis, be summoned to the Parliament’s Institutions and Transparency Committee.
Rumors (continue to) swirl that the government majority is looking for a pretext to freeze the process. This is expected with particular interest in the coming days…
CONSTITUTIONAL REVISION: Kyriakos Mitsotakis’s pressure on PASOK to secure the 180 votes needed in the current, Proposed Parliament to determine which articles of the Constitution should be amended by the next, Revisionary Parliament, is not yielding results.
The reason? Although PASOK’s goal is also the electoral defeat of New Democracy, the possibility that the government will remain in conservative hands—“whether under Mr. Mitsotakis or someone else, it doesn’t matter,” as they say—remains likely, at least according to the polls.
The reasoning, therefore, of both Harilaou Trikoupi and all the opposition parties, is: if we “give” the 180-vote consensus now on which articles need to be revised, the next government will be able to determine the content of the new articles and pass them with a simple government majority of 151 “yes” votes.
As is well known, the revision requires 180 votes in one Parliament and 151 in the next—and vice versa—so that the new Constitution is not at the mercy of the government in power at the time.
The Parliament’s Constitutional Committee, chaired by Makis Voridis, begins work today, and the schedule calls for three meetings per week. The time constraints are tight, after all, since the governing majority decided to hold the first vote in the Plenary at the end of July and the second at the end of August.
A timeline that has allowed the opposition to speak of… the fastest-track constitutional revision ever.
PRE-ELECTION PROMISES: On Thursday, Nikos Androulakis proposed free public transportation for young people up to age 24. The next day, Friday, Alexis Tsipras presented his own proposal: free public transportation for all citizens regardless of age, except for tourists.
“Logically, Mitsotakis will promise… teleportation” was one of the scathing comments flooding social media, indicating that the above proposals were largely perceived by the public as partisan competition over pre-election promises.
Prominent commentators noted that the major problem with public transportation isn’t the fare, but the infrequent schedules (especially on the Metro and buses) combined with cars/vehicles lacking air conditioning.
The truth is that party leaderships need to pay closer attention to their announcements. Especially in the ELAS, which needs to demonstrate early on that it is bringing something new to the table, since the “five proposals” presented by Mr. Tsipras on Friday regarding abolitions/changes are not accompanied by the essential detail: what will replace what is being abolished.
“We’ll tell you everything; don’t rush,” respond officials close to Amalia, seemingly downplaying the well-known saying “the beginning is half the battle.”
MARINAKIS? Vangelis Marinakis’s Capital Clean Energy Carriers (CCEC) is entering the LNG ship supply market through a joint venture with the French company CMA CGM.
The agreement includes an order for a new LNG supply vessel and a guaranteed 12-year charter from the moment of its delivery.
CCEC announced the formation of a 50-50 joint venture with CMA CGM for the construction, operation, and management of a 20,000-cubic-meter LNG bunker vessel. The vessel has been ordered from the Chinese shipyard Nantong CIMC Sinopacific Offshore & Engineering for $82.8 million and is expected to be delivered in the third quarter of 2028.
At the same time, the new corporate entity is expected to enter into a 12-year time charter contract with a consortium of TotalEnergies and CMA CGM, securing long-term revenue from the vessel’s commencement of operations.
CCEC CEO Jerry Kalogeratos described the move as a “natural extension” of the company’s presence in the natural gas sector,
GENCO: The U.S. shipping company that has been targeted by Greece’s Diana Shipping, owned by Semiramis Palaiou, announced that it will limit the duration of its poison pill—the corporate defense mechanism that allows a company to prevent or make an unwanted takeover more expensive by diluting the prospective buyer’s stake—to one year.
In an effort to appease shareholders and proxy advisors, Genco Shipping & Trading has committed to limiting the duration of the controversial takeover defense mechanism (“poison pill”) and to considering any proposal that fairly values the company.
The U.S. shipping company is thus responding to criticism from Diana Shipping and the advisory firm Institutional Shareholder Services (ISS).
The measure was adopted last year following the rapid increase in Diana Shipping’s stake, which now makes it the largest shareholder of the New York-listed company. ISS had expressed concerns that extending the mechanism could deter potential buyers.
Genco emphasized that the board of directors remains open to evaluating any acquisition proposal that offers shareholders full value for their investment and a reasonable control premium. At the same time, it reiterated that it has already rejected three proposals from Diana Shipping, arguing that they do not reflect the true value of the company’s fleet and platform.
The standoff between the two shipping groups continues ahead of the general meeting, where Diana continues to seek two seats on Genco’s board of directors.
SNAPPI: Piraeus Bank increased its stake in the newly established digital bank Snappi from 55% to 68% through the latest capital increase of €10 million. It now holds a controlling stake, with Natech holding the remaining 32%.
GENERALI: Generali has appointed a new (non-executive) chairman. Andrea Crisanaz is a certified actuary and Generali’s regional director for Latin America and Greece.
Panos Dimitriou remains in his position as CEO.
HHG: The merger of the two holding companies through which Hellenic Healthcare Group (Purehealth–CVC) controls clinics and diagnostic centers in Greece and Cyprus has been completed.
Hellenic Healthcare I absorbed Hellenic Healthcare II. Thus, for the first time since their acquisition, Ygeia and Metropolitan are now under the same (direct) umbrella.
The share capital of Hellenic Healthcare I was increased by the net worth of Hellenic Healthcare II (€34.19 million).
INVESTMENTS: Another investment project from the 2011 Development Plan has been formally completed. The Region of Thessaly certified the completion of a €1.8 million investment by Pelion Residence in South Pelion.
The project, which involves a three-star tourist facility with 48 beds in the Platanias area, was deemed fully compliant with the initial approval. Funding consisted of €1.08 million in equity and a public grant of €720,000.
SUPERFUND: Interested parties have been granted more time for the tender for the Coast Guard’s new open-sea patrol vessels.
The Superfund’s Strategic Contracts Unit has extended the public consultation for the project—being carried out on behalf of the Ministry of Shipping—until June 20.
The procurement involves patrol vessels over 80 meters in length for the Corps’ operational needs.
REORGANIZATION: REKA S.A. has secured a significant reprieve from its creditors, as the Court of First Instance of Rhodes granted temporary protection until the reorganization plan is adjudicated.
The decision suspends auctions, seizures, and other enforcement measures, giving the company time to continue operations and negotiate an agreement with its creditors. The main hearing in the case has been set for July 1, 2026.
ELAIONAS: Another major private project is being added to the region’s development map. The company Dodeka Elies S.A. has secured environmental permits for the construction of a cultural complex spanning nearly 8,000 square meters on Agios Savvas Street.
The plan includes a three-story building, two underground levels, and 61 parking spaces.
EPILEKTOS: The company’s restructuring process is reaching a critical juncture following the filing of an application for ratification of the restructuring agreement with the Athens Multi-Member Court of First Instance.
The agreement has garnered the consent of 78.9% of creditors and all secured claims. The case will be heard on June 17, while the legal protection against prosecutions and enforcement measures is already in effect.
MRB: MRB Hellas is seeking an extension of protection from seizures and other enforcement measures, as the hearing on its restructuring application has been postponed until September.
The company argues that a gap is created after the expiration of the automatic stay provided by law and has filed a new petition with the court. The request for a temporary injunction will be heard on June 19 and is considered critical for the continuation of the proceedings.
TERKENLIS: The well-known company in Northern Greece has completed another step in the licensing procedures for its production activities.
The Region of Central Macedonia approved the inclusion of its facility in Nea Raidesto under the Standard Environmental Commitments regime.
The production facility, which operates in the bakery and confectionery sector, is classified as low-impact, allowing for the application of simplified environmental licensing and operational procedures.
FILIPPO: HQF is launching a new large-scale investment in the agri-food sector, following approval for the establishment of a hatchery in Steni, Evia. The facility will have a capacity of 15.6 million hatchings per year and will be developed on an 8.46-acre site, utilizing existing facilities of approximately 3,700 square meters.
The investment strengthens the group’s vertical integration of production and reflects the ongoing momentum of the poultry farming sector.
SKAGIAS: Th.K. SKAGIAS S.A. in Kryoneri, Attica, has received the “green light” for the modernization and expansion of its operations.
The company, which operates in paper processing and printing, is proceeding with investments to upgrade its production base following the project’s inclusion in the Standard Environmental Commitments program.
The decision paves the way for new production capabilities, strengthening the company’s competitiveness in a demanding industrial sector.
PPPs: Five major irrigation projects secured €157.4 million in financing through public-private partnerships (PPPs), with their total investment exceeding €820 million. The projects are located in Thessaly, Xanthi, Crete, and Messinia, involving improvements to dams, reservoirs, and modern irrigation networks.
The initiative is part of the national plan to address water scarcity and boost agricultural production in regions with increased water needs.
NATURAL DISASTERS: The Ministry of National Economy and Finance is allocating €45.45 million for projects to repair damage caused by natural disasters across the country.
The funding covers interventions in road networks, water supply, port infrastructure, and flood protection projects in 11 regions. Attica and Thessaly receive the largest share.
FOURLIS-QUEST: The transformation of Fourlis, spearheaded by the development of a unified (from warehouse management to sales) retail platform for the brands it represents, “aligns,” at least on paper, with Quest’s strategy, as has been laconically stated.
Quest acquired approximately 12.5% of Fourlis, with the possibility of increasing its stake to significantly higher levels in the future, stating that it is not simply a retail group but a retail sales management platform.
The fact that Fourlis seeks to make the aforementioned asset (i.e., retail sales management platform) and simultaneously capable of managing more retail concepts indicates that Quest’s entry into its share capital is not perceived as an aggressive move.
FOURLIS-QUEST II: The references in Fourlis’s relevant announcement were so carefully worded that they speak volumes without shouting.
According to Fourlis’ management, therefore, the transformation aims to create a more flexible and scalable organization that will accelerate the development of existing and future retail concepts, leveraging the group’s long-standing expertise in retail.
Expertise that goes beyond the management of existing brands…
TITAN: The stock gained nearly 2 euros in Friday’s session, climbing to 52.7 euros with a 3.74% rise, while it reached as high as 53.35 euros during the session.
The stock is up more than 21% from its March low of 43.5 euros, though NBG Securities notes an unjustified discount relative to its competitors.
The brokerage firm set a new target price for the stock at €65, with the upside potential from Friday’s close exceeding 23%.
ALTER EGO: Among the stocks that stood out on Friday, with a 4.4% jump to €5.68, as shareholders also looked ahead to the Annual General Meeting, where CEO Yannis Vrentzos expressed optimism about the company’s performance over the next three years.
As the CEO of the listed company pointed out, the group can continue its impressive growth. The General Meeting also approved a dividend distribution of €0.03 and a capital return of €0.09, with an ex-dividend date of June 29.
It should be noted that Euroxx, in a recent report, set a new target price of €7.50, seeing upside potential of over 30% from the stock’s current levels.