ECONOMY

Selath Holdings to acquire at least 10% of PPC’s shares

selath-holdings-to-acquire-at-least-10-of-ppc-s-shares

Public Power Corporation on Tuesday announced it has reached an agreement with Selath Holdings to participate in a PPC share capital increase plan.

In an announcement, PPC said Selath Holdings will purchase at least a 10% of PPC’s equity worth 395 million euros.

Selath will use investment capital managed by CVC Advisers Greece SMSA and its subsidiaries.

Under the terms of the agreement, Selath will participate in the shareholder capital increase plan at a purchase price of no more than €9 per share, obtaining at least 10% of PPC’s equity capital with voting rights.

Selath will have to hold PPC’s shares for six-month period.