BUSINESS

Ellaktor looks set for major internal battle

NIKOS ROUSSANOGLOU

TAGS: Business

Ellaktor’s critical general shareholders meeting next Thursday looks set to be the mother of all battles among stakeholders, as it will to a great extent determine who will manage the country’s biggest construction group in the future.

Last week the two sides, Leonidas Bobolas and Dimitrios Koutras on the one and brothers Anastasios and Dimitris Kallitsantsis on the other, presented their strategic plans for the group’s future, which reflected the deep rift between them on key issues such as the activities Ellaktor ought to focus on, the changes on the construction side, the sale of subsidiaries, the acquisition of properties, as well as energy and mining.

The sole point the two sides do agree on is the importance to the group of waste management and project concessions.

All this makes it clear that if the parties concerned do reach a conclusion to their standoff, the outlook for Ellaktor will be quite different, regardless of whichever stakeholder comes out on top; it will signal the end of an era in relations between the existing shareholders, following two decades of cohabitation under the same corporate roof.
 

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