GEK TERNA S.A. (Bloomberg: GEKTERNA GA / RIC: HRMr.AT) announces the signing of a share purchase agreement for the transfer of equity stakes it holds in the Concession Company “Diktaion Parachoriseis S.A.” and the Operations Company “Diktaion Leitourgia S.A.”, relating to the Chania–Heraklion road section of the Northern Road Axis of Crete (VOAK), so that the new shareholding structure will be as follows:

• GEK TERNA S.A.: 40%
• Aktor Concessions S.A.: 24%
• Metlen Energy & Metals S.A.: 24%
• Aktor Concessions & PPP Investments S.A.: 12%

With respect to the construction works of the project, which is currently being executed by TERNA S.A., upon the final completion of the transaction, TERNA S.A. will be substituted by a new corporate structure under the name “TERNA–AKTOR– METKA DIKTAION JOINT VENTURE”, consisting of TERNA S.A. with a 40% stake, Aktor with 30%, and METKA with 30%.

Completion of the transaction is subject to the fulfilment of all terms and conditions set out in the share purchase agreement and the concession agreement, including the receipt of the required approvals from the competent authorities and the project’s lending banks.

Having now achieved financial close and the commencement of the VOAK concession period, GEK TERNA retains the largest participation in the project. The transaction enhances the flexibility of the GEK TERNA Group to further pursue and undertake new projects