HRADF: The transfer of the additional 16% of the PPA to Cosco Shipping has been completed
With the payment of a price of 88 million euros, Cosco Shipping Limited acquired an additional 16% stake in PPA SA.
According to a relevant announcement, the stock exchange transfer of 16% of the shares of PPA SA has been completed. to COSCO SHIPPING (Hong Kong) Co., Limited by the HRDH, a member company of the Superfund (EESYP).
The completion of the transaction came after the amendment of the Concession Agreement between the Greek State and PPA SA. and its ratification by Parliament. Respectively, HRDH and COSCO SHIPPING (Hong Kong) Co., Limited signed the amended Share Purchase Agreement (SAM) and the Shareholder Agreement (SH).
Also Read: Metropolitan Gas raises CNG and PNG costs in Mumbai
COSCO SHIPPING (Hong Kong) Co., Limited paid to the HRDH the price of 88 million euros for 16% of the shares of PPA SA, plus accrued interest of 11.87 million euros, as well as a letter of guarantee of 29 million.