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November 26, 2016

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Home » Business » Finance

Greek grid stake sale approved

GREECE’S Public Power Corp has cleared the sale of a 24 percent stake in the Greek power grid operator ADMIE to China’s State Grid International Development, Greek national news agency AMNA reported.

The approval came in an extraordinary general assembly for shareholders.

The Chinese company won an international tender last month and was declared the preferred bidder by offering 320 million euros (US$340 million).

The timetable, already ratified by the Greek parliament, envisages the signing ceremony to be held in early 2017.


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