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    PPC   GRS434003000

PUBLIC POWER CORPORATION S.A.

(PPC)
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Public Power S A : Greece's Public Power gets four binding bids for power grid operator

09/03/2021 | 11:41am EDT

(Reuters) - Greece's biggest power utility Public Power Corp (PPC) <DEHr.??> has received four binding offers for a minority stake in its fully-owned power grid operator HEDNO, it said on Friday.

PPC, which is 51% owned by the state, is selling a 49% stake in HEDNO.

Assuming an enterprise value, which includes debt, of about 5 billion euros ($5.94 billion) for HEDNO, the minority stake being sold by PPC could be valued at around 2.45 billion euros.

Binding bids were submitted by private equity fund CVC Capital Partners Group and asset managers First Sentier Investors Group, Macquarie Group and KKR Group, PPC said in a bourse filing.

The deadline for the submission of binding offers expired earlier on Friday.

The power utility had shortlisted nine investors for Greece's sole grid, which operates a 242,000 km ($146,978.44) long grid, bringing electricity to about 7 million households and businesses across Greece.

PPC will first make sure that bids fulfil the technical conditions set in the tender before it unseals the financial offers, it said.

PPC is keen to upgrade the grid, which mainly consists of overhead cables susceptible to fails in adverse weather and introduce smart meters to address power thefts.

($1 = 0.8416 euros)

($1 = 1.6465 marka)

(Reporting by Angeliki Koutantou; editing by Michele Kambas, and Louise Heavens)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MACQUARIE GROUP LIMITED 0.05% 200.57 End-of-day quote.44.84%
PUBLIC POWER CORPORATION S.A. 0.11% 9.08 Delayed Quote.22.21%
All news about PUBLIC POWER CORPORATION S.A.
10/26PUBLIC POWER S A : Cornerstone Agreement with Investor in connection with Share Capital In..
PU
10/20PUBLIC POWER S A : Resolutions of the Extraordinary General Meeting of the Shareholders of..
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10/19PUBLIC POWER S A : Greek power utility PPC gets shareholder approval for stake sale
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10/07PUBLIC POWER S A : RWE enters Greece via solar JV with Public Power Corp
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10/07RWE enters Greece via solar JV with Public Power Corp
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09/30PUBLIC POWER S A : Announcement - Regulated Information according to L. 3556/2007
PU
09/24State-Backed Funds in Greece May Cut Controlling Stake in PPC
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09/23PUBLIC POWER S A : Greece mulls lower stake in PPC, say state-backed funds
RE
09/23PUBLIC POWER S A : Macquarie named preferred bidder for stake in Greek power grid operator..
RE
09/23PUBLIC POWER S A : Capital Raising through Share Capital Increase for the funding of PPC G..
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More news
Analyst Recommendations on PUBLIC POWER CORPORATION S.A.
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Financials
Sales 2021 4 712 M 5 467 M 5 467 M
Net income 2021 110 M 127 M 127 M
Net Debt 2021 3 287 M 3 814 M 3 814 M
P/E ratio 2021 28,4x
Yield 2021 -
Capitalization 2 107 M 2 442 M 2 444 M
EV / Sales 2021 1,14x
EV / Sales 2022 1,21x
Nbr of Employees 13 190
Free-Float 48,9%
Chart PUBLIC POWER CORPORATION S.A.
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Public Power Corporation S.A. Technical Analysis Chart | PPC | GRS434003000 | MarketScreener
Technical analysis trends PUBLIC POWER CORPORATION S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 9,08 €
Average target price 13,32 €
Spread / Average Target 46,7%
EPS Revisions
Managers and Directors
Georgios Stassis Chairman & Chief Executive Officer
Alexandridis Konstantinos Chief Financial Officer
George Venieris Independent Non-Executive Director
Despina Doxaki Independent Non-Executive Director
Stephanos Theodoridis Independent Non-Executive Director
Sector and Competitors
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