Dutch fund spends 25.5 mln
 to raise stake in GEK Terna


Dutch investment fund Reggeborgh Invest has raised its stake in listed construction and energy group GEK Terna to over 32 percent, becoming a de facto strategic investor and a significant guarantor of the future course of the company.

A year ago it had agreed to buy out the 15.3 percent stake that York Capital Management controlled then at GEK Terna.

Reggeborgh has now acquired another 5.32 million shares for 25.56 million euros (4.8 euros per share) to raise its stake to 32.15 percent.

Another main stakeholder, Giorgos Peristeris, has paid 8.9 million euros to acquire 1.86 million shares to raise his stake in the group to 16 percent.