SGCC offered 320 million euros for 24 % stake in ADMIE – Greece, 27 October 2016

Greek Public Power Corporation (PPC) announced that Chinese company State Grid of China Corporation (SGCC) has offered the highest bid in an international tender for the sale of 24 % stake in Greek electricity transmission system operator ADMIE. The bid amounts to 320 million euros.
Italian Terna also submitted bid in the second stage of the tender, but it was lower than SGCC’s. Third contender, French RTE, withdrew from bidding in the second round. The Greek Government appears satisfied with the offer and it is now expected that PPC will select SGCC as the preferred bidder before 31 October. The acquisition of 24 % stake in ADMIE could be made official during the next shareholders’ meeting scheduled for 24 November.

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