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    PPC   GRS434003000

PUBLIC POWER CORPORATION S.A.

(PPC)
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Public Power S A : Macquarie named preferred bidder for stake in Greek power grid operator HEDNO

09/23/2021 | 12:10pm EDT

ATHENS, Sept 23 (Reuters) - Greece's biggest power utility Public Power Corp (PPC) <DEHr.> on Thursday formally named Macquarie as the preferred bidder for a minority stake in its fully-owned power grid operator HEDNO.

PPC shareholders will take a final decision on the bid at a meeting scheduled for Oct. 19, PPC said.

PPC earlier this month said the offer by Spear WTE Investments Sarl, a member of the Macquarie Infrastructure and Real Assets Group, valued the 49% stake at 2.1 billion euros ($2.46 billion), including debt of 804 million euros, making it the highest among four groups which issued binding bids.

PPC, which is 51% owned by the state, has said it will use the sale proceeds to reduce debt and boost its footprint in renewables.

HEDNO operates a 242,000 km long grid, which brings electricity to about 7 million households and businesses across Greece. PPC expects a new investor to help to upgrade the grid, which mainly consists of overhead cables susceptible to failing in adverse weather. ($1 = 0.8519 euros) (Writing By Michele Kambas. Editing by Jane Merriman)


© Reuters 2021
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Analyst Recommendations on PUBLIC POWER CORPORATION S.A.
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Financials
Sales 2021 4 712 M 5 486 M 5 486 M
Net income 2021 110 M 128 M 128 M
Net Debt 2021 3 287 M 3 827 M 3 827 M
P/E ratio 2021 28,9x
Yield 2021 -
Capitalization 2 147 M 2 498 M 2 500 M
EV / Sales 2021 1,15x
EV / Sales 2022 1,22x
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
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 9,26 €
Average target price 13,32 €
Spread / Average Target 43,9%
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
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