The successive announcements by GEK TERNA's management regarding agreements with Rheinmetall and NaftoGaz certainly did not go unnoticed by the radar of perceptive market players.
On June 24 and 29, the two announcements highlighted the spectacular broadening of Peristeris' focus into business sectors beyond the group's core activities until now
Information reports that a capital increase of 650 million euros is in the planning, with the involvement of Morgan Stanley. Announcements may come even in the next few hours.
Recently, the management of GEK Terna referred to plans for investments in critical infrastructure amounting to 5 billion euros, following the undertaking of the concessions for the Egnatia Odos and Attiki Odos, where investments of 5.5 billion euros were made.
Speaking to shareholders, George Peristeris, chairman and chief executive officer, stressed that the group has strong liquidity for the implementation of new investments, making use of the funds that flowed into its coffers from the sale of GEK Terna's stake in Terna Energy to Masdar.
Meanwhile, the transformation of the company that began some eight years ago is also progressing.
“The effort we are making benefits not only our company but also society more broadly. In just the last twenty months, we paid the state approximately 5.5 billion euros for the acquisition of two major concessions, and this continues alongside other long-term investments we are making,” he said.
“Last year, the concession was taken over and operation of the Egnatia Odos began, a very large 1,000-kilometer motorway in terrible condition; we have already begun its reconstruction,” he added.