How Macquarie arrived… at Stassis, what is going on with Metlen – AVAX, new acquisitions in olive oil, the appointment of Georgatos – Kopelouzos and the “ribbons” of Poles and French – Economic Postman – 2024-08-08 07:47:24

Greek companies move at the pace of deals, taking advantage of the opportunities that open up either inside or outside the borders.

And of course there are the business deals that close, the ones that fall apart at the last minute… and others that are fanciful…

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PPC

The mega deal of the month was again in energy.

And this time it came from PPC. The company, after the acquisition of Enel in Romania, is literally wiping out this particular market and any opportunity it finds in front of it does not let it go to waste…

The acquisition of Evryo Group with 629 MW of operational RES projects owned by the large Australian fund Macquarie is if nothing else the definition of a successful acquisition.

The sizes

As analysts explained to me, PPC made an acquisition at a value of 6 to 7 times the EBITDA of the Macquarie subsidiary, when in recent deals of other companies investors allocated capital corresponding to 15 and 17 times the EBITDA.

The background

In addition, the acquisition of the company owned by Macquarie has a remarkable past and background, which also demonstrates the size of the investment opportunity that literally came and found the president and CEO of PPC Giorgos Stassis.

As my good source from Bucharest told me, this particular portfolio was built by an American fund and the Czech power company CZECH. Three years ago Macquarie acquired APE, while it should be noted that the Australian fund has a distribution network in Romania as well as electricity trading.

Dissatisfaction…

The taxes imposed during the energy crisis, my information says, have discouraged Australians, who apparently didn’t see the gains they wanted and were looking for a way out…

Macquarie, knowing PPC as well, my sources say, from the cooperation with DEDDIE they knocked on Stassis’ door… The latter had given the writing samples from the acquisition of Enel in Romania.

The deal didn’t take long to come…

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The constructions

But there are also deals, as I told you, which either fall through the cracks… or are figments of the imagination…

And information leaks whether or not those negotiations are on the ground when an industry is booming.

And in this case that is the construction industry…

The Metlen – AVAX scenario

Yesterday, therefore, a scenario was released on the market regarding the merger of Metlen’s construction sector, i.e. “METKA” and “M Concessions” with AVAX.

It is not the first time that this scenario has been circulated, and let me remind you that the rumor about Metlen’s discussions with Intrakat had also played out before. Something that had been denied.

Information about negotiations between Metlen and AVAX had a similar fate, with official announcements from both sides.

I don’t know if “where there is smoke, there is fire” applies in this case, what is certain is that at least from the side of Metlen and Evangelos Mytilinaios, the search for opportunities is always on their radar… But I am not sure that at this stage concerns the construction sector…

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More will come!

The olive oil market may have been hit by climate change – this year’s temperatures have caused a lot of damage in many parts of the country – but investment interest has been rekindled.

The recent two business moves in the bottled olive oil industry, according to market sources, do not seem to be the last…

Minerva?

It is already known that Minerva, one of the largest standardization companies, is under acquisition, while Altis has been owned by a fund for years. And all this, of course, while the internal market for standardized olive oil has collapsed. From 40,000 – 45,000 tons of standardized olive oil today consumption does not exceed 13,000 tons. And if the HORECA market is also calculated by force, it reaches 20,000 tons…

Exports

However, things are different in the export sector – where the big money is! Exports of standardized olive oil are estimated at around 40,000 tonnes – a “drop in the ocean” for the international market, but an extremely significant amount for the standardization industry.

But it seems that there is restraint – it’s true! – optimism for the prospects of both export and mainly domestic consumption. The same sources claim that it will not be long before the internal market for standardized olive oil recovers. And these are also the reasons why other deals are being conceived in the sector…

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The meeting between Georgatos and Kopelouzos in Aigli

But there is also a third category of business agreements.

Those that have been closed for a long time and their investment plans are running normally.

So I learn that the crews for the completion of the project to reopen Aigli Zappeio, are working feverishly.

The joint venture of Georgatos (Grigoris) – Kopelouzos, which has leased the emblematic space, is revving up, with the aim, according to the information, to start at the end of October.

Vlassis Georgatos

Sources in the know say that the facelift in the area is extensive, and they estimate that the final result will make a sensation. The same sources estimate that the money that will be spent in the end will exceed 6 million euros, far exceeding the initial budget.

I am informed that Vlassis Georgatos is often present, as a person from the Kopelouzou group, and supervises the progress of the work.

Indicative of the importance that the new tenants attach to the whole project…

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Grand opening….

And from the big deals, let me take you to the part of the market that welcomes large foreign retail chains.

I am informed that in the coming months in Patras we will have inflation… new store openings. The Achaean capital is developing into a hot trend in the retail market.

Poles and French…

In addition to the Polish chains Pepco and Sinsay, which have already “closed” a location in the Achaean capital, expanding their presence, the French clothing chain Kiabi will also make its debut.

OT has been informing you about the arrival of the French value for money chain for months. All three lease spaces in the new retail park of Trade Estates of the Fourlis group.

However, it is not only foreigners who love Patras, as a new lease contract for a store of over 2,600 sq.m. the Moustakas toy chain also signed

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Multinationals, the usual suspect…

Retail has more than just joys…

It also has a persistent gripe… Merchants throughout the ages, even in the golden days of retailing, never stopped complaining. Who knows. Maybe to keep them from the evil eye?

The “squares”

However, things now seem to be serious.

As a person who knows the area well tells me – he has traveled miles in various stores, the turnovers are noticeably down despite the discounts that are running.

An additional thorn is the rents. Especially in popular “markets” shop owners are constantly pushing for higher prices on expiring contracts.

Golden rents…

I learn that in Ermou for a shop – not a corner – from 13,000 euros per square meter, the owner is now asking 26,000 euros! The argument; The fact that real estate prices are galloping and they have several offers, especially from multinationals. Which are willing to pay a bit more to get the position they want and grow their network.