Signing of contract for the sale of 24% of PPC's participation in the share capital of IPTO S.A.

Public Power Corporation S.A announces that on  December 16, 2016, the Share Sale and Purchase Agreement was signed, for the sale of 24% of PPC's participation in the share capital of IPTOS.A.

The contract was signed by PPCS.A.and the preferred bidder, the Chinese Company State Grid, which was nominated following the conclusion of the tendering process.

The price for the acquisition of 24% of PPC's participation in the share capital of IPTOS.A.,

amounts to € 320 mln.

The conclusion of the transaction and the transfer of the shares of IPTO to State Grid, is subject to receiving all appropriate licenses and certificates by Greek and EU competent Authorities, as well as the completion of the remaining  procedures of the ownership unbundling of IPTO S.A. from PPC S.A., according to the provisions of L. 4389/2016, as amended and is in effect. 

Athens, December 19, 2016