BUSINESS

Latsi to buy into GEK Terna

latsi-to-buy-into-gek-terna

The stake that the Reggeborgh Invest group holds in Greek construction company GEK Terna is set to drop from 28% to 14%-15%. Kathimerini understands that the Dutch investment fund is restructuring its holdings in the local construction market, choosing to divest from the GEK Terna group and focus on the reorganization of Ellaktor, in which it holds a 14.3% stake.

In this context, over the next few days the final details will be confirmed and the share packages of GEK Terna will change hands. The buyers will most likely be the construction group’s chairman and chief executive Giorgos Peristeris and Marianna Latsi, through the investment fund that manages her fortune. This will be Latsi’s first move since announcing her departure from Lamda Development.

Sources have told Kathimerini that Latsi stands to acquire a 7% stake in GEK Terna, with another 7%-8% heading in Peristeris’ direction. When that is completed, Peristeris will constitute the biggest stakeholder in GEK Terna, having raised his stake to 23%-24%.

Market sources commented yesterday that its divestment from GEK Terna allows Reggeborgh to disengage itself from any negative developments in the investigation into its involvement in both of the sector’s two biggest firms.