Kyriakos and the family feud-Dangerous war games with Russia-Tzigger's sales and the insiders

A quiz for Maximos. Athens Medical: The losses and the... breathing space. Macquarie's €2 billion bet on Greek shipping. Moda Bagno and the restaurant in Mykonos. Sales by Insiders in MOH, purchases in Jumbo.

Kyriakos and the family feud-Dangerous war games with Russia-Tziggers sales and the insiders
Εικόνα με χρήση τεχνητής νοημοσύνης (AI generated image)

This article is an AI translation of an original piece published in Greek. Read original

MITSOTAKIS: Yesterday's intervention by the prime minister at the cabinet meeting against the backdrop of the latest "off-key notes" by blue ministers and MPs in their public appearances had quite a few intra-party recipients.

The prime ministerial message had two kinds of recipients:

On the one hand, those who come out with their statements and -for various reasons each- give cause for critical comments and criticism of the government "without reason or cause".

On the other hand, those who rush to condemn these specific colleagues of theirs for the said behaviors, further intensifying the introversion in ND.

"In public confrontation, style also creates impressions. Therefore, under these conditions, speech must not only be persuasive. It must also be measured, unified and precise, knowing that at the end of the day we will all be judged by the citizens. But until then it is my responsibility to evaluate individual behaviors of MPs and ministers", Mr. Mitsotakis said characteristically, with the last phrase being interpreted as a barb mainly toward his sister, Dora Bakoyannis, and what she expressed about "arrogant" ministers and "people with swollen heads".

In the meantime, however, in the informal "feud" his nephew, Kostas Bakoyannis, took his mother's side: "Everyone knows it and we pretend it's a secret source of pride" he commented on Action24, when asked whether there is arrogance in the government.

 

NEW DEMOCRACY: The former Mayor of Athens was not the only one. Another MP, Dimitris Kalogeropoulos, in an interview, took the side of the former minister:

"Let not only Mrs. Bakoyannis denounce them, we all denounce them", he noted, stressing that they must "understand that we do not represent an elite. Because ND, as the largest party and a popular party, from the process charted by Konstantinos Karamanlis and in its statute, is the largest. You cannot shrink it and tell me various stories about the citizens and reproach the citizens when you come in order to serve them".

To be continued on the… screen.

 

QUIZ: Both are close associates of Kyriakos Mitsotakis, residents (also) of the Maximos Mansion during the current government term. Their relations are generally smooth, however the first no longer has the best opinion of the second.

"He considers himself the future leader (of ND) and behaves accordingly", he confides to his trusted interlocutors and accuses him of arrogance and arbitrary initiatives, without the knowledge of the other prime ministerial interlocutors.

It happens even in the best of circles.

 

RUSSIA-NATO: The continuous discussion about war between Russia and NATO, which has been taking place for months on a massive scale in Northeastern Europe and in the former empire of Great Britain, has begun to become a dangerous game,

The war in Ukraine, the hybrid operations attributed to Moscow and the repeated warnings of European governments have created a serious background of concern, which, however, very few share in Greece and most of Western and Southern Europe

Up there in the North and Northeast, however, this very intense discussion is already leading to… war scenarios, which are being projected in various ways by the major international media.

Recently in Britain Sky aired "The Wargame", a simulation of a Russian attack on the country (although seas and the whole of continental Europe separate them), in which former ministers, (!) military officers and intelligence service officials are called upon to decide how they would react.

In the development of the scenario, even the possibility of a British strike on Kaliningrad, appears, as a response to a previous Russian attack.

Kaliningrad is not just any region. It is a Russian exclave in the Baltic, geographically cut off from the rest of Russia, "wedged" between Poland and Lithuania -two NATO countries- and of great strategic importance to Moscow.

 

RUSSIA-NATO II: Almost simultaneously, the British i Paper presented this very exclave as Putin's possible "Achilles' heel", hosting analyses on how its geographic isolation could be used as a… lever of pressure on Moscow.

However, what is presented in the West as map exercises and projected as journalistic scenarios carries the risk of being read by the other side as preparation for real choices and moves.

Thus, Moscow's response to the above was not long in coming - and it was extremely harsh.

The Financial Times revealed yesterday that Moscow sent this week to NATO a non-paper, warning that any attempt to isolate Kaliningrad could even lead to the use of nuclear weapons and strikes against "decision-making centers" of Alliance countries.

Reuters, which subsequently saw the document, confirmed its content, while NATO responded, according to the reports, denouncing "irresponsible nuclear rhetoric".

But when one side constantly projects the possibility of a Russian attack and publicly discusses what Russia will suffer if it attempts it, it is rather expected that the other side will in turn suspect possible preparation of offensive actions and respond by raising the tone even further, while also strengthening its forces.

This, after all, is how the so-called escalation trap works, since the risk of an intense confrontation concerns not only what your opponent wants to do, but also what he thinks you want to do!

P.S.: These things were known in the era of the Cold War, which is why the decision makers of that time were very careful. Now, unfortunately, everyone says whatever they want. Perhaps because the veterans of that era have withdrawn from the spotlight and their "successors" in the West do not have the experience of the dangers of a rivalry with nuclear powers.

 

MACQUARIE: More than $2 billion has been channeled into financing Greek shipping since 2017 by Macquarie Shipping Finance, strengthening its presence in one of the most important shipping markets worldwide.

The Australian investment bank has completed more than 75 transactions with Greek shipowners since its first agreement in the market, in 2017, with Atlas Maritime. On August 31, Macquarie's shipping loan portfolio in Greece exceeded $1 billion.

The cooperation with Atlas has developed into one of the bank's longest-standing in Greece, with more than 25 separate transactions.

Among the recent agreements is financing of $99 million to Technomar Shipping for the refinancing of seven containerships. At the same time, Macquarie financed Adele Shipmanagement, a company founded by a Greek entrepreneur outside the shipping sector, for the acquisition of its first bulk carriers. It now finances four vessels of the group.

In July, TradeWinds had also revealed financing by Macquarie to Y/Knot Invest for the acquisition of the aframax "Jag Lokesh" from Great Eastern Shipping.

At a global level, Macquarie's shipping portfolio amounts to $2.5 billion, covering more than 650 vessels.

 

ATHENS MEDICAL: With a profit of just 521 thousand euros, on a consolidated level, and a loss of 3.1 million euros, at parent company level, Athens Medical closed the first half of the current fiscal year.

Consolidated turnover increased by 3.82% to 148.2 million euros, the gross profit margin was slightly pressured, while administrative expenses (21.7 million euros) and financial expenses (7.14 million euros) weighed on the results.

The negative net cash flows of 7.5 million euros from operating activities, together with capital expenditures (8.3 million euros) and repayments of lease liabilities, reduced cash reserves by almost 20 million euros to 11.3 million euros.

The group got some breathing space, at the liabilities level, from the refinancing of short-term bank borrowing, through the issuance of a common bond loan, which was covered by Alpha, NBG, Eurobank, with a nominal value of 65 million euros. The loan provides for bullet repayment at maturity (i.e. January 30, 2028), while the interest rate results from six-month euribor plus a margin of 1.65%.

At the same time, Medical signed a new common bond loan of up to 30 million euros, from which it had drawn down 18 million euros by July. Total borrowing amounted on June 30 to 184 million euros.

 

PRODEA: The listed company closed the first half of this year's fiscal year with losses of 13.2 million euros, compared with profits of 74.8 million euros in the corresponding period last year, due to a reduction in turnover as a result of portfolio transformation moves.

Adjusted EBITDA amounted to 49.8 million euros, with net debt at 830 million euros (i.e. 46% of the investment portfolio).

Net asset value (NAV) fell to 3.94 euros from 5.44 euros due to the shrinking of the balance sheet, a development that also explains the significant drop the share has recorded on the board.

 

PRODEA II: On July 21, Prodea's subsidiary Thriasefs MAE, to which the logistics real estate sector was contributed, proceeded to conclude a bond loan with the banks Alpha, Piraeus, for an amount of up to 159.5 million euros for the purpose of refinancing borrowing and financing developments and investments.

The loan has a duration of 10 years with an interest rate of 3-month Euribor and a margin of 1.20%. On July 29, 2026, THRIASEFS S.A. drew down an amount of €100,000 and used it for the equal repayment of the credit agreement with an open current account

 

NBG-PRODEA: Within the third quarter of this year, in the context of the preliminary agreement with the National Bank of Greece, Prodea signed final sale contracts for an additional 20 properties, collecting 33.92 million euros.

 

LAMPSA: The group is expected to close the current fiscal year with a marginal increase in revenue, according to its management.

Having placed part of its liquidity (i.e. 7.19 million euros on 30/6) in bonds and time deposits, Lampsa is expected to benefit from the rise in interest rates and yields, while it has "locked in" a lower borrowing cost (i.e. reduction of the spread to 1.4% from 1.9%) since September 24, 2024.

During the first half, consolidated sales increased by 3% (58.8 million euros), the gross margin widened by 317 bps to 38.21% and EBITDA amounted to 15.3 million euros (+15%).

Profit after taxes amounted to 7.18 million euros, compared with 5.44 million euros in the corresponding half of last year.

 

MOTOR OIL: Share sales by insiders continue after the stock's "crazy" course on the board as well, as it is "touching" 70 euros, with an increase of almost 120% since the beginning of the year.

Thus, after I. Kosmadakis, P. Tzannetakis and Th. Voutsaras, it was the turn of Giannis Vardinogiannis (Tzigger).

As became known yesterday, Canelo Holdings Limited, a legal entity associated with the chairman and CEO of Motor Oil, proceeded to sales of a total of 80,000 shares of the company, with a total value of 5.415 million euros.

More specifically, on September 25, 2026 it sold 10,000 shares for 665,853.20 euros, on September 28 30,000 shares for 2.031 million euros and on September 29 40,000 shares for 2.718 million euros.

Overall, the transactions correspond to an average sale price of approximately 67.69 euros per share.

 

JUMBO: On the other hand, in the Jumbo share, "troubled" this year, Sofia Vakaki, daughter of the company's founder, Apostolos and executive member of the BoD, continues her share purchases.

As became known yesterday, Ms. Vakaki acquired 31,179 shares on Monday and 144,877 on Tuesday, paying a total of around 4.4 million euros.

The stock closed with a marginal rise at 24.86 euros. Since the beginning of the year, it is losing more than 10%, while the distance from the highs it "saw" in early August 2025, at 32.48 euros, exceeds 23%.

 

MODA BAGNO: The Interni restaurant in Mykonos remains a key pillar for the company.

The listed company announced that net profits reached 995 thousand euros from 118 thousand euros, while EBITDA increased 71% to 3.28 million euros. Consolidated turnover reached 16.5 million euros from 13.25 million in the corresponding period of 2025.

Almost one in four euros of revenue (23.93%) comes from the restaurant, with management estimating that performance in the second half -which also includes the heart of the tourist season- will provide a further boost.

It is recalled that in mid-September the listed company acquired 75% of ESTIA JJC, which owns the preserved building of the newspaper "ESTIA". It plans to convert it into a luxury hotel with a restaurant.

  

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