15 Dec 2022
minutes read

Completion of the transaction for the acquisition of 75% of ELLAKTOR’s RES segment

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (the “Company”) with reference to its previous announcements dated 6th of May 2022, 4th of August 2022 and 16th of August 2022, hereby informs the investment community on the following:

Subsequent to the decision of the Extraordinary General Assembly of Company shareholders dated 8th of September 2022, and following the Hellenic Competition Commission approval for the acquisition by the Company’s subsidiary MOTOR OIL RENEWABLE ENERGY SINGLE MEMBER S.A. (MORE) of the shareholder control of the ELLAKTOR’s RES segment, the company ANEMOS RES HOLDINGS S.A. acquired from ELLAKTOR S.A. all the shares of the company ANEMOS RES S.A. which, as a result of a spin-off of activities, owns ELLAKTOR’s RES business. The amount paid for the said acquisition was EUR 671.5 million. The transaction was completed on the 14th of December 2022.

MORE is the majority shareholder of ANEMOS RES HOLDINGS S.A. with a 75% stake while ELLAKTOR S.A. participates with a 25% stake.

ANEMOS RES S.A. owns the aggregate portfolio of ELLAKTOR’s RES segment with overall operating capacity 493 MW as well as development and storage project pipeline with capacity exceeding 1.6 GW.

Maroussi, 15 December 2022

The Board of Directors