€1,320M available to PPC following the sale of its stake in HEDNO to Macquarie
PPC S.A. announced that the sale of 49% of its participation in HEDNO S.A. (Hellenic Electricity Distribution Network Operator S.A.) share capital was completed with the deposit of €1,320 million by Macquarie Asset Management for the acquisition of the aforementioned stake.
Said consideration has been adjusted to reflect the change in the Net Asset Value of HEDNO until 28.2.2022, according to the terms of the Share Purchase Agreement.
In addition, during the meeting of the Board of Directors of HEDNO that took place on Monday, February 28, 2022, following the resignation of the previous members, with the exception of Mr.Manos, CEO of the Company, and Mr. Masouras, representative of employees, and the election of the new ones by the Extraordinary General Meeting of HEDNO’s Shareholder, the Board of Directors of HEDNO was formed into a body as follows:
- Michail Kefalogiannis, Chairman, Non–Executive Member
- Anastasios Manos, Managing Director, Executive Member
- Stéphane Brimont, Non–Executive Member
- Arthur Rakowski, Non–Executive Member
- Mark Mathieson, Non–Executive Member
- Ourania Ekaterinari, Non–Executive Member
- Evangelos Aggeletopoulos, Non–Executive Member
- Alexandros Paterakis, Non–Executive Member
- Sotirios Hadjimichael, Non–Executive Member
- Georgia Christodoulopoulou, Non – Executive Member
- Konstantinos Masouras, Non–Executive Member, employees’ representative
The term of office of the members of the Board of Directors of HEDNO S.A. will expire on 28.2.2025, with the exception of Mr. Konstantinos Masouras, which expires on 27.6.2022 and of Mr. Anastasios Manos which expires on 16.10.2022.