Ellaktor : A fresh look at bond valuation in the wake of M&A speculation
The announcement last month that Dutch family office Reggeborgh had acquired a 5% stake in Greece's largest construction company and an option on another 12.5%, sent Ellaktor's share and bond prices soaring. The investment is a positive signal about the quality of Ellaktor's management and assets. More importantly, it could pave the way for a tie-up with Ellaktor's arch rival GEK Terna, in which Reggeborgh already holds 32%. In this report, we take a deep dive into Reggeborgh, a ...Ellaktor operates via its subsidiaries, mainly in constructions and quarrying, real estate development and management, wind power and environment, and concession sectors. Co. operates abroad in the Middle East countries, and specifically in the United Arab Emirates, Qatar, Kuwait, Oman and Jordan, as well as in other countries, such as Germany, Italy, Cyprus, Romania, Bulgaria, Albania, Serbia, Cameroon, Turkey, Croatia, Bosnia-Herzegovina, FYROM, the U.S., the U.K., Chile and Panama. As of Dec 31 2014, Co. was mainly operating in six business segments: construction and quarries; real estate development; concessions; wind farms; environment; as well as other activities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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