GEK TERNA and AD Holdings participate in the company, the consortium of which emerged as the preferred investor in the tender run by HRADF last year for the assets and activities of the historical metallurgy LARCO.
The company has its headquarters at 85 Mesogeion Street and a share capital of 50,000 euros, which was paid in half by its two company shareholders (GEK TERNA and AD Holdings). The position of president of Hellenic Nickel was taken over by Petros Suretis, authorized advisor of GEK TERNA. Manolis Moustakas, executive member of the Board of GEK Terna, Joseph Plumbly, Group Commercial Counsel of the ArrowResources group, and Vassilis Hondros are also members of the Board of Directors.
Purposes of the newly established company, according to the relevant entry in GEMI, are:
Construction. operation and exploitation of metallurgical plants and related and supporting facilities and infrastructure.
- The operation and exploitation of mines of any kind, privately owned or leased or granted.
- The mining, export, production, recovery, refining, processing, sale, exploitation, trading and export of ores, metals and minerals, in Greece and internationally.
- The sale, lease and generally disposal and the acquisition, lease and use of real estate.
- The undertaking of delegations with commission or participation in the profits of the above products or the undertaking of distribution or resale contracts.
- The establishment or participation in other companies or entities of the same or a different purpose and the acquisition in whole or in part of business, property, rights and obligations of any natural or legal person or entity that carries out an activity or owns assets useful for the purposes of the Company and or in any way the acquisition and exploitation of rights or privileges necessary or useful for the purpose of the Company.
Any other activity and function directly or indirectly serving or connected to the above mentioned purposes.
It is recalled that the tender for the sale of LARCO's assets was completed in 2023, with the GEK TERNA - AD Holdings scheme as the highest bidder, but since then an appeal by the Irish CMI, which also participated in the tender to the Council of State, is pending. Immediately after the issuance of the Court's decision, the transfer to the bidder will be completed.
