Announcement
Commenting on press articles and for the accurate information of the investors’ community, PPC clarifies that the comment in an article that “the State will pay € 241 m for the acquisition of the 25% of IPTO, since the price is calculated according to the valuation of Deloitte” is not accurate. The valuation conducted by Deloitte refers to the contribution of 51% of IPTO S.A. to Energiaki Holding S.A., whereas, according to the law in force, for the Greek State “the price per share will be defined following a valuation of the 25% of the share capital of IPTO S.A. as an individual part that will be conducted by an independent appraisal house, which will be selected jointly by HR Co SA and PPC S.A.”, thus the price will be the result of a valuation that will be done.
PPC also clarifies that the total debt of IPTO S.A., on 31.12.2016, stood at € 498 m, whereas, excluding cash reserves (€ 294), net debt stood at € 204 m.
Athens, January 24, 2017