BUSINESS

Mytilineos acquires 100 percent of METKA EGN

TAGS: Energy

Mytilineos on Monday announced that it had reached an agreement to buy the remaining stake (49.9 percent) that it does not already own in METKA EGN Ltd.

Following the completion of the transaction, Mytilineos will become the sole shareholder of METKA EGN.

This transaction is taking place within the framework of Mytilineos’ overall energy plan, which will now include a platform for the construction, operation, financing and resale of photovoltaic power generation and storage units in Greece and, mainly, in the international market, the listed group said.

It added that “the total acquisition of METKA EGN ensures obvious synergies: The exceptional know-how developed in recent years by METKA EGN will benefit from increased financial flexibility, an increased ability to secure optimal agreements with suppliers and customers and will especially benefit from its increased size.”

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