The successive announcements by GEK TERNA’s management regarding agreements with Rheinmetall and NaftoGaz certainly did not go unnoticed by astute market players.
The two announcements, made on June 24 and 29, demonstrate the spectacular expansion of Peristeris’s strategic focus into sectors beyond the group’s core business to date
Reports indicate that a €650 million capital increase is in the works, with Morgan Stanley involved. Announcements may even be made in the coming hours.
Recently, GEK Terna’s management referred to plans for investments in critical infrastructure totaling 5 billion euros, following the acquisition of concessions for the Egnatia Highway and the Attica Highway, where 5.5 billion euros in investments were made.
Speaking to shareholders, George Peristeris, chairman and CEO, emphasized that the group has strong liquidity to carry out new investments, leveraging the funds that flowed into its coffers from the sale of GEK Terna’s stake in Terna Energy to Masdar.
Meanwhile, the company’s transformation—which began eight years ago—is also moving forward.
“The efforts we are making benefit not only our company but also society as a whole. In the last twenty months alone, we have paid approximately 5.5 billion euros to the government for the acquisition of two major concessions, and this is a continuation of other long-term investments we are making,” he said.
“Last year, we took over the concession and began operations on the Egnatia Highway—a massive 1,000-kilometer highway that was in terrible condition—and we have already begun its reconstruction,” he added.