Under the new corporate structure the Group will be vertically integrated with operational subsidiaries in each sector.
In this context, there was established the "AKTOR REAL ESTATE" that will be a modern Real Estate platform, utilizing group synergies for the renovation, operation and development of real estate. The purchase of properties will be achieved by acquiring Prodea's subsidiary "MILORA MAE" in which assets will be comprised this particular portfolio. It is reminded that MILORA MAE is a 100% subsidiary of Prodea Investments, and currently owns only one property located in Kallithea (Harokopou 87) with a total value at c.€2 million.
From the share capital increase approx.€50 million will be used to finance part of the total estimated net price (excluding debt obligations) of approximately €180 million. The funds for the €582 million real estate portfolio will be secured by 75% from non -recourse Bank Debt, by 15% from non-recourse Sub Debt and by 10% from equity. The goal for EBITDA is to reach €40 million by 2025 and €55 million by 2030 respectively. The company's contribution to the Group's EBITDA will rise to 13% in 2030.
The Framework Agreement outlines the procedure for the completion of the Transaction, which is expected to be finalized, provided that the stipulated contractual conditions and other customary conditions and approvals for similar transactions are met, with the signing of the final legal documents, by May 31st, 2025.
The parties may extend the deadline for completion of the Transaction by mutual agreement.
The rest Group subsidiaries
Apart from AKTOR REAL ESTATE subsidiary will also comprise,
AKTOR RENEWABLES: Will proceed with investments of 1.4 billion euros for RES projects with a capacity of 1,300 MW, until the end of 2027, through the implementation of existing agreements for the acquisition and construction of RES projects with a cumulative capacity of 912 MW, as well as the acquisition of further RES portfolio, with a total capacity of 390 MW, which is under investigation today. In addition, with an implementation horizon after 2028, the company will mature an existing portfolio of energy projects with a capacity of 1,300 MW, as well as an additional portfolio of 1,500 MW that will concern energy storage through pumped storage.
The goal is to achieve EBITDA of €22 million in 2025 and €130 million in 2030, respectively. The total investment will amount to €1.4 billion, of which 80% will come from non-recourse Bank Debt, 10% from non-recourse Sub Debt and 10% from equity. The company's contribution to the Group's EBITDA will rise to 30% in 2030.
AKTOR CONSTRUCTIONS: Aktor construction company is a member of the Intrakat Group since 2023 and its biggest subsidiary. Aktor is one of the most iconic construction organizations in Greece, with vast experience, multifaceted activities, and international presence in major technical projects. Aktor has delivered some of the most emblematic transport, energy, building and tourism projects across Greece, while it possesses significant experience in infrastructure and project management, and quarrying activities. The Intrakat Group is a leading business organization with a wide portfolio of activities and a significant footprint in Southeastern Europe. Committed to sustainable development, the Intrakat Group creates value for its shareholders and the communities in which it operates, driving growth.
AKTOR FACILITY MANAGEMENT: The Group's subsidiary proceeds with the acquisition of companies, which are active in the promising sectors of security and catering services. In particular, the acquisition of the company Oceanic Security was agreed, while it is close to completing the acquisition of the catering services business. The company's aim is to become a one stop shop, which will cover all intra-group needs and will "unlock" access to larger market sectors. The goal is to achieve EBITDA of €12 million in 2025 and €25 million in 2030, respectively. The percentage of contribution to AKTOR Group's EBITDA will amount to 6% in 2030. Investments for direct acquisitions will amount to 21 million and will come from operating flows.
AKTOR EQUITY PARTICIPATIONS: The company starts with a strong foundation in the construction, operation and maintenance of concession projects and PPPs, while the acquisition of existing operating concession projects or companies that have stakes in concession projects is being considered. It also aims to develop a portfolio of concessions in Romania as well - when the state chooses to use this infrastructure construction and financing model. The company will build a portfolio of concessions with a maturity horizon of 2028 and the goal of achieving EBITDA of €40 million in 2030, with the percentage of contribution to AKTOR Group's EBITDA reaching 9% in the same period.
Share capital increase of up to €200M to finance the company transformation
In order to implement the corporate transformation, the listed company announced a €200 million share capital increase with a cash payment and a right of preference in favor of the existing shareholders. Those with preemptive rights in the Increase will be entitled to acquire New Shares at a ratio of 0.270853462305055 New Shares for each old share of the Company.
These funds will be allocated to carry out investments of €2 billion in order to achieve in 2025 a turnover of €1.4 billion and an EBITDA of €184 million and in 2030 a turnover of €3.2 billion and an EBITDA of €430 million .
It is recalled that the participation of the main shareholders (Exarchou, Bakos, Kaimenakis) amounts to 39.17%, the participation of shipowners Angelos and Gotsis to 15.6% and 14.7% respectively, while Intracom owns 5.09% of the company .
Scholarship program
Finally, AKTOR announced the creation of a Scholarship program for studies abroad in a series of specialties that will cover all of the Group's activities, with the aim of creating a nursery of executives and specialized personnel. It is a training and skills development program, with an emphasis on digital technologies and the use of specialized tools and practices to work more effectively in their areas of employment in the Group. The detailed presentation of the Scholarship Program will take place in January 2025.
