ELLAKTOR S.A.

Significant event announcement

Significant event announcement

Business developments

ELLAKTOR SA (hereunder the "Company") informs the investment community that, the Company and its wholly owned subsidiary REDS S.A. on one hand, and DIMAND REAL ESTATE DEVELOPMENT ("DIMAND") and its Group of companies on the other, agreed on April 11, 2025 on the conditional sale and purchase of real estate properties in Attica and Crete (the "Transaction") as follows:

  1. The sale of 100% of the share capital of the companies KANTZA EMPORIKI S.A. (wholly owned by REDS S.A.), and KANTZA S.A. (wholly owned by ELLAKTOR S.A.), which own land plots with a total area of approximately 319,000 sq.m., located in the Cambas area, within the Municipalities of Paiania and Pallini.
  2. The sale of 100% of the share capital of the company GOURNES REAL ESTATE DEVELOPMENT AND MANAGEMENT S.A. (wholly owned by REDS S.A.), which owns a land plot of 346,000 sq.m., located in the Gournes area of the Municipality of Hersonissos, in Heraklion, Crete.
  3. The sale of a land plot of approximately 4,400 sq.m. and another plot of approximately 1,300 sq.m. along with a preserved building of 700 sq.m. These two plots are located in the Trigono Cambas area of the Municipality of Pallini.

The final total consideration for the Transaction will be determined on the date of transfer of the shares of the companies mentioned in items 1) and 2), while the agreed value of the properties amounts to €85.6 million. The equity consideration for the companies will be determined considering their financial position on the date of completion of the Transaction.

Completion of the Transaction is subject to customary terms and conditions, including, indicatively, the satisfaction of required actions relating to the properties and the companies, and is expected to take place by July 31, 2025, or at a later date if mutually agreed in writing by the parties.

 

The above information is provided in accordance with Regulations of the European Parliament ((EU) 596/2014) the European Council and the Athens Stock Exchange.

 

 

Kifissia, 11.04.2025