Public Power Corporation SA

06/16/2021 | Press release | Distributed by Public on 06/16/2021 00:40

Tender process for the sale by PPC S.A. of 49% of HEDNO S.A. share capital


PPC S.A. informs that the Board of Directors, on 15.6.2021, decided the following:

  1. To set 31.3.2021 as the date of the Transformation Accounting Statement for the preparation of the hive-down -division accounting statements of the Distribution business segment of PPC S.A. and its subsequent contribution to HEDNO S.A. The Distribution business segment hive-down will occur as division by acquisition, with the combined application of articles 57, 59-73 and 83-87 of L. 4601/2019 and the Legislative Decree 1297/1972. The date is subject to change by a later decision of the BoD if need be.
  2. To select « Grant Thornton S.A. Chartered Accountants and Management Consultants», as the independent expert who will prepare the Valuation Report on the fair value of the assets and liabilities to be contributed to HEDNO, will review the Draft division agreement and will prepare the relevant Report, according to articles 62 and 10 of L. 4601/2019.

Athens, June 16, 2021